Polished diamond prices went down again in May – the 15th consecutive month prices have been dropping, according to the IDEX Polished Price Index, published by IDEX Online. The index is now down just over 22% on its peak in March 2022” and has been sliding ever since.
Month-on-month, prices fell 1.9% in May. Year-on-year prices dropped 18.1% in May – “the worst in at least the last four years, and are worse than any month during the Covid pandemic.”
Month-on-month, losses were more pronounced among 0.50-carat and 4.0-carat goods and less so in the size between. Year-on-year, prices for 1.0-carat goods fared worst, down 21.8% closely followed by 1.5-carats and 2.0-carats. Larger goods performed better.
In conclusion, while JCK at Vegas may provide “a much-needed nudge in the right direction,” the index “has now been in decline for 15 months and there’s little to suggest things will change any time soon […]”.
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