Polished diamond prices went down in June “as the Index suffered its biggest monthly loss” since last March, according to the IDEX Polished Price Index, published by IDEX Online.
Month-on-month, the Index went down 3.04% in June. The Index fell 1.27% in May, 1.47% in April and 0.98% in March. Year-on-year, prices for June “hit another low” with a drop of 18.9%. Year-on-year prices have been “in decline since April 2022 and have been below zero since December.”
According to the report, “global demand remains weak amid ongoing geopolitical uncertainty. De Beers reported a year-on-year drop in rough sales of almost a third during the month, amid increasing sightholder caution.” IDEX Online concludes its report by saying that “it remains to be seen” whether the drop in June “is a blip or the sign of a steeper decline to come.”
Read the full report here.
