The price of certified polished diamonds showed a slight rise in November, according to Rapaport Corp.
Polished buyers maintained caution and avoided large-scale purchases, but suppliers still held firm on their prices. Confidence improved, but the volume of trading taking place remains below expected levels for this time of year.
The RapNet Diamond Index for 1 ct. diamonds rose 1.9 percent in November. The 0.30 ct. category increased by 1.2 percent, while the index for half-carat diamonds rose by 0.6 percent.
Rough prices stabilized and demand improved slightly in November, but trading remains weak. Indian diamond manufacturing is below capacity and confidence there continues to be impacted by tight liquidity and the recent sharp depreciation of the rupee.
Overall sales in November were disappointing after a strong start over the Thanksgiving weekend, according to the Rapaport Research Report, “Signs of Stability.” The report also states that jewelry retailers went into the season with relatively large inventories having aggressively bought goods in the first half of the year.