Polished diamond prices faced a substantial setback in September, suffering their single biggest monthly drop of the “current decline” with a fall of 3.07%, according to the IDEX Polished Price Index, published by IDEX Online.
After 18 months of experiencing a consistent and near-linear decline, the market has now entered a phase of heightened volatility, with prices showing a pattern of leveling off briefly before experiencing sudden drops once again.
The Index now stands at a staggering 30% below its peak in March 2022 – a month after Russia’s invasion of Ukraine.
In September, month-to-month prices witnessed their most significant drop of the ongoing decline, with a 3.5% decrease. This followed declines of 2.6% in August and 2.9% in July. Year-on-year, prices for September were down by 21.2% – “the biggest monthly drop of the current slowdown.”
Read the full analysis here.
