Diamond Prices Under Pressure in August Due to Summer Slowdown

06/09/2016 15:42

One-carat diamond prices remained under pressure with low trading volume during the August vacation period, according to a statement from the Rapaport news service. Inventories of polished are building up due to steady manufacturing and soft demand as dealers prepare for the fourth-quarter holiday season. However, there is some improvement in items weighing less than one carat as Chinese bridal demand stabilizes.

The RapNet Diamond Index (RAPI) for 1-carat diamonds fell 0.8% in August, while RAPI for 0.30-carat goods was flat and prices of 0.50-carat stones edged up 0.2%, as did 3-carat diamonds.

Meanwhile, PolishedPrices.com reported that there was continuing downward pressure on diamond prices as of the end of August due to the summer vacation slowdown. However, it reported prices rebounding at the end of the first five trading days of September, with better quality 1.0 carat diamonds with the Fine category rising 3.7% and Commercial 4.0% over the previous week.