Rapaport: Diamond Prices Stable in July

Certified polished
diamond prices stayed stable in July, according to statistics released by
online trading network RapNet.

“The prevalent seller’s
market softened through the summer months,” the company said in a statement.
“There was some price resistance from buyers, who avoided making large
inventory purchases.”

However, it also
noted that rough diamond prices rose an average 10 percent in July, continuing
the strong trend from the first half of the year.

The Rapaport
Research Report  “Quiet in Perspective,” also notes that the
current stability should not be seen as a general slowdown in the market, since
the July and August period is traditionally quiet for wholesalers.

By contrast, the
outlook for the second half of 2011 remains strong, with strong growth led by
China and India, as well as modest improvement in the U.S.