Polished diamond prices have “suffered a setback in April,” falling 2.1% month-on-month, according to IDEX Online.
Prices have been showing some small signs of recovery since November 2022 with declines getting progressively smaller, making the more significant drop in April feel jarring. According to the analysis, “[…] uncertainty persists globally, the US feels jittery over bank collapses and China’s post-Covid bounce back – at least in terms of diamond spending – fails to materialize.”
Year-on-year, the fall is much more dramatic – 17.7%. According to the analysis, “year-on-year prices have been falling since December, but the March and April declines are the worst in at least the last four years […].”
The analysis concludes: “The Index is falling faster than it has in recent months and such recovery as we have seen in month-to-month prices appears to have come to a halt.”
Read the full analysis here.
