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Diamond price newsJune Global Polished Diamond Prices Show Modest Gain(July 9, '06, 6:00 Ken Gassman) found at IDEX
Polished
diamond prices in the global market edged upward only modestly in June,
according to the IDEX Online Polished Diamond Price Index. The average price of
polished diamonds in June 2006 rose only 2.5 percent over the average for the
same month a year ago. While
retail demand for diamonds and diamond jewelry remains relatively solid, jewelry
merchants are not re-stocking as rapidly due to near term uncertainty related to
the possibility of a global economic slowdown. Further, in the
Diamond
Prices Down from Peak Late Last Year
Like
many commodities – gold, silver, platinum, and others – diamond prices rose
sharply in the fall of 2005. However, unlike other commodities, diamond prices
never surged. Instead, they peaked going into the 2005 holiday selling season,
and then settled back to a more normalized level in 2006. In
part, the lack of a diamond price frenzy, which typified many other commodities,
is related to the lack of a trading market for financial speculators. While
there are several diamond bourses around the world, membership is limited to
diamond traders. Financial traders and speculators are excluded from membership.
Most analysts believe that financial traders were largely responsible for the
recent run-up in the price of most commodities. The graph below shows the Polished Diamond Price Index since January 2005.
Overall,
larger polished diamonds and very small diamonds (under a tenth of a carat) rose
in price while gemstones in the 0.50 to 1.00 carat range generally declined in
price. This has been an ongoing trend for many months. The graph below illustrates price trends for 0.50 carats and larger polished diamonds. The four sizes shown – 0.50, 1.00, 1.50, and 2.00 carat – comprise just under 30 percent of the market in terms of dollar value.
Among
very large diamonds, round cut five carat polished diamonds have risen a
dramatic 17 percent in price since June 2005. These diamonds represent less than
1 percent of the market. IDEX
Online Research noted that polished prices have moderated for several reasons
including the following:
Forecasts
by IDEX Online Research suggest that there are some factors that could cause
diamond prices to increase over the next several months, including the
following:
The
IDEX Online Diamond Price Index is a real-time index derived from actual asking
prices of the global diamond industry. The IDEX Online Diamond Price Index
objectively reflects price trends as they happen. The Diamond Index and Diamond
Drivers were formulated following comprehensive research and analysis of the
IDEX Online inventory database, aggregated since February 2001. Research and
development were conducted in cooperation with Dr. Additional information is available from IDEX Online Research related: Booming gem & diamond sales prove diamonds are still foreverAmid fears that the art market bubble is about to burst, diamonds are proving to be the auction houses' best friend. In the past month, they have fetched record prices in salerooms from Hong Kong to New York. read diamond sales |
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