Diamond prices dip in August

by carly_midgley | September 5, 2018 9:13 am

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Diamond prices continued to soften during the quieter summer period, reports Rapaport[2] in its diamond index for August. Factors such as the closure of bourses in Belgium and Israel caused prices for 0.30-, 0.50-, and one-carat diamonds to fall by 0.9, 0.1, and 0.5 per cent respectively.

Rapaport also noted the upcoming Hong Kong Jewellery & Gem Fair[3] as a consideration with the potential to affect diamond prices. The outlook for the show is uncertain given trade tensions between China and the United States, a weaker Chinese yuan, and an atmosphere of caution among Hong Kong jewellers.

Due in part to this caution, smaller, lower-value diamonds are experiencing a drop in demand, while the market remains strong for high-quality SI diamonds. Larger gems continue to perform fairly well, with three-carat diamonds increasing in price by 0.2 per cent in August. The year-to-year numbers for all four diamond sizes assessed remain strong as well, with the following results emerging:

• an increase of 6.7 per cent for 0.30-carat diamond prices;
• an increase of two per cent for 0.50-carat diamond prices;
• an increase of one per cent for one-carat diamond prices; and
• an increase of 0.9 per cent for three-carat diamond prices.

Spirits remain high as we head into the holiday shopping season, with positive earnings results from both Signet Jewelers[4] and Tiffany & Co.[5] keeping U.S. retailers particularly optimistic.

Source URL: https://www.jewellerybusiness.com/news/diamond-prices-dip-in-august/

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