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Polished Diamond Prices Returns to Pre-Covid Level in December

While the index slumped in 2020, there are encouraging signs that things are turning around
round polished diamonds display
Credit: Almarina / shutterstock.com

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”.

 

polished diamond price trends 2020
Credit: IDEX Online

 

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”. 

 

polished diamond price trends
Credit: IDEX Online

 

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. 

 

polised diamonds price trends by size 2020
Credit: IDEX Online

 

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”.



Tags: Diamonds News, Diamond Industry News, Diamond Prices News

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