The IDEX Price Report for March 2024, published by IDEX Online, shows that diamond prices continued to decline due to “slow trading, weak sentiment and anxiety over the introduction of G7 sanctions on Russian goods.” Few diamonds saw price increases during this period.
Signet, the world’s largest retailer of diamond jewelry, reported a 6.3% fall in net sales for Q4. De Beers’ CEO Al Cook said that while consumer demand for diamond jewelry is growing in India, it “remains sluggish in China,” adding that De Beers expects “that the ongoing recovery in rough diamond demand will be gradual as we move through the year.” In Antwerp, traders face turmoil as they must now provide evidence that imported goods are not from Russia, causing disruptions and delays of a week or more.
Round prices continued to drop, particularly among better colors and clarities (D-I / IF-VS2) in the 1 to 1.99-carat range. Goods under 1 carat saw minimal activity, with few price increases. Among 5 to 5.99-carat gems, most goods were affected, and most D-F goods in 4 to 4.99-carats saw declines. Fancies also experienced widespread losses, with minimal gains. Prices dropped across most sizes above 0.50-carats, primarily among better colors and clarities (D-H and IF-VS2).
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