IDEX: Polished Diamond Prices “Stable” in August
The IDEX Polished Price Index has “remained virtually static,” according to IDEX Online. At the end of August there were “slight rises” in polished diamond prices. Nevertheless, the Index remains at a six-year high, averaging 125.49 during the year to date – compared with 119.22 in 2020 and 122.16 during pre-Covid 2019.
According to the report, polished prices slowed in August, “signaling the end of an upwards trend.” The increase for the month was 0.8% – down from 1.7% in July and 2.2% in June. it should be noted that polished prices “had been rising steadily from March to July.”
Year-on-year prices were up 10.3% in August. Polished prices for all sizes except for 0.5-carats rose during August “but increases are more modest than of late.”
According to IDEX Online, the “post-lockdown rebound appears to be slowing.” In addition, while consumer demand in the key US and Chinese markets remains high, “the pent-up element of their spending is probably over.”