The overall polishedprices index recorded its lowest level since September 2010 and is now nearly 30% below the high of August 2011. The main polishedprices index opened down 1.3% from the previous Monday at 124.4 points. The overall index is currently 12.6% lower than this time last year, and has lost 8.9% since the start of 2015. The main weakness came from Fine and Commercial one carat diamonds, which failed to hold on to previous week’s gains, losing 6.4% and 5.7% respectively.
As the graph that Thomas Biesheuvel of Bloomberg posted on Twitter shows, rough prices are not far behind (polished = blue, rough = white).
Graph source: Bloomberg