The IDEX Polished Diamond Price Index, published by IDEX Online, shows that diamond prices in December 2020 “were exactly in line with those of the same month in 2019”.
Prices were “badly hit” by the global COVID-19 pandemic in March and April, falling 4.8%. Since then, prices have shown a “more or less” steady rise, finally reaching pre-Covid levels in December.
Diamond prices were up 0.3% month-to-month. There was an unexpected 0.2% fall in November, but prior to that there were three consecutive months of “solid increase”.
All in all, the IDEX Polished Diamond Price Index slumped during 2020. It closed at 119.22, a fall of 2.4% over 2019. The blame, the analysis claims, lays mostly with the pandemic. Finally, the Index enjoyed a post-Christmas bounce and closed the year on a 2020 high.
As for the future, IDEX says that there are some encouraging signs, as well as some are causes for concern: “The big black Covid cloud still hangs over the market, and although vaccines are now being rolled out, mutant strains, rising infection rates and new lockdowns mean that after a year of coronavirus the end is still not in sight”.
