IDEX: POLISHED DIAMOND PRICES DECLINE IN JANUARY
The IDEX polished diamond price index, published earlier this month, shows a small decline during January, following a slight rise in December. According to IDEX Online, the Index began the month at 120.88 and ended at 119.21.
As for the foreseeable future, IDEX is optimistic as “sentiment in the diamond centers was generally solid”. According to their analysis, the industry is restocking “after what was reportedly an upbeat holiday sales season and with the Chinese New Year (which falls on February 16) sales period”.
Additionally, regional retailers in China report good results as expectations are “solid” for the Year of the Dog. In the US, retailers are restocking ahead of Valentine’s Day. In Israel, polished manufacturers and traders “were preparing for the annual International Diamond Week in Israel [February 5-7)”. In India and Antwerp the year started off slowly, “albeit with firm sales”.