Record Polished Prices, Soar Ahead of HK ShowJune 20, 11
Diamond prices have been rising sharply in the first half of the fiscal year, especially so in the second quarter, as the graph below shows.
Polished diamond prices are rising as rough diamond prices continue to increase and consumer demand is unabaiting. The strong rally started in early March, ahead of the
Prices continued to rise until the
Since March, prices continued their upwards movement, as traders are reassured again by good business at the recent
Last week De Beers once again hiked prices of their rough, leading some traders to buy polished on a speculative basis, anticipating further growth of polished prices.
Next week the June Hong Kong trade fair will open and the conventional wisdom is that business will be good there too, as the Chinese and Indian markets are on a steady and continues growth path.
The industry views these trends as positive signs for a successful November-December holiday season, and therefore expects prices to keep rising for another few months.