IDEX Online Research: Polished Prices Rise 1.9% in April, Index Breaks RecordMay 04, 11
(IDEX Online News) – Polished diamond prices rose by about 1.6% during the month of April, according to the IDEX Online Polished Diamond Index. The average price of polished diamonds increased by 1.9% in April compared to March, bringing the Index to 130.6 after it reached a record 131.5 on April 19. Half carat diamonds were the star performer.
The full analysis of the polished diamond prices is available to IDEX Online Research subscribers and IDEX Online members here.
Polished diamond prices soared in April, despite volatile trading during the month. Between the first and last days of April, polished diamond prices rose some 1.6%, one of the largest increases since prices started to recover in March 2010. Further, the month-over-month 1.9% increase was one of the largest price increases since 2008.
On a year-over-year basis, polished diamond prices rose by 13.9%. This is the largest such price increase since pre-crisis June 2008, when prices shot up by 14.5% year-over-year.
Source: IDEX Online Research
Prices of polished diamonds rose across the board. Demand for smaller goods propelled the price of 0.5 caraters the most, up 3.6% in April compared to March. Four carat goods continued to be the strong price gainer when measured year-over-year, 24.5%.
Polished prices took a strong upward turn in mid February as traders were getting ready for the March Hong Kong show and has hardly paused since. The very good results of the show provided price with a strong back wind that lasted until the Basel show a couple of weeks later. Sharp rough diamond price increases by the DTC further propelled polished prices, leading to the record breaking 131.5 on the IDEX Online Price Index.
Not only rough diamond prices and solid wholesale trading, but retail sales too are behind the polished price rally, growing mostly in China and India.