The past few years have seen tremendous growth in commodities like gold, iron ore, and other minerals. As a result, many mining companies are curbing diamond mining in favor of these more profitable products. Looking at growth across sector lines it's easy to see why. A recent Wall Street Journal article (“Diamond Mining Loses Momentum, June 16, 2008) noted that Wyndham's Polished Prices diamond index was up just 3.6 percent from a year ago compared with the sector benchmark, the S&P GSCI, which is up 37.6 percent during the same period.
Diamond: 1/4 ct. round
VS1
VS2
SI1
SI2
G
$1,495
$1,350
$1,200
$1,050
H
$1,400
$1,300
$1,070
$