Fine diamonds Lead Upward Trend

Diamond prices continued their volatile path over the past week, as prices firmed across the board following last week’s sharp losses in most ranges of goods.

Fine qualities led the demand, with high-end one carat diamonds rising 11%, and better quality half carats opening 10.2% higher.

Despite the volatility, overall prices have strengthened since mid-March. The diamond index is now challenging its record level reached in October last year.

The main PolishedPrices index, which tracks all sizes between 0.3 carats and 3 carats, opened 3.2% higher at 129.6 points. This is 4.7% above its level of this time last year and 3.3% higher on the year so far.

Commercial 0.3 carat diamonds were the only group in negative territory, losing 1.7% over the past week.

The definitions of our groupings are:

Fine: goods better than I color and VS2 and above.
Commercial: K SI3 and above, excluding the Fine category, and
Mixed: the rest down to M I3