Diamond prices appear to be stabilizing, driven primarily by a decline in diamond supply, according to the IDEX diamond price index published by IDEX Online.
The report indicates that increased demand ahead of the holiday season has contributed somewhat to rising prices. However, the primary driver of price increases is a relative shortage of rough diamonds. Estimates suggest that De Beers sold rough diamonds worth no more than $130 million in its November sight, compared to an average of $360 million per sight in 2023. Similarly, Russia’s Alrosa has reduced mining and sales volumes, diverting more stones to the state’s Gokhran repository.
In the round diamond category, a series of price increases were recorded—the most significant in months. These increases were particularly notable for diamonds weighing 4.00 to 5.99 carats. Encouraging signs were also observed in diamonds weighing 1.00 to 1.99 carats, and to a lesser extent in the 2.50 to 2.99 carat range. In the smaller weight categories, price declines continued, though at a slower rate than in recent months. In the 1.50 to 2.99 carat range, price increases far outpaced declines.
Fancy diamond prices underperformed compared to round diamonds but still showed signs of recovery. Across all weight categories from 0.18 to 5.99 carats, either a mix of price increases and decreases was observed, or price increases were dominant, as was the case in the 1.50 to 1.99 carat range.
