In January, the IDEX Polished Price Index saw a minor decrease of 0.27%, following a 1.9% increase in December. This shift in momentum, after a prolonged post-Covid downturn, reflects the prevailing “confusion and uncertainty” within the diamond industry, according to IDEX Online.
January witnessed a 0.4% month-to-month price increase – only the second rise since March 2020. December recorded a 1.9% increase, breaking a trend of approximately 3% monthly declines since July 2023.
Year-to-year, prices have shown “gradual signs of recovery,” albeit remaining negative with prospects of persisting negativity for several months. However, improvements on a month-to-month basis have been noted since hitting a low point of -21.6% in October, with the January figure at -15.7%.
Year-to-year polished prices were down in January, resembling the November scenario. However, the drops in prices for 2-carat stones and below were slightly smaller, while those for 3-5 carat diamonds were marginally larger. Most sizes, excluding 0.50-carat and 3-carat stones, witnessed price increases in January.
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Read More: Polished Price Index Experiences Slight Decline in January 2024