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Diamond index dips in light trading

The overall PolishedPrices index dropped 0.9% to 125.8 points over the past week, in quiet trading.

The index is now 5.7% above the level recorded at this time last year, and up 0.3% since January.

Thirty pointers, or 0.3 carats, were the main feature of last week’s trading, returning to the historical long-term differentials between the different qualities.

Fine quality 0.3 carats were particularly strong over the past few weeks, while Mixed qualities showed a lacklustre performance.

But prices over the past week showed saw a sharp reversal of fortunes, with Mixed 0.3 carats gaining 6.3%, while Fine qualities fell 12.9%. All 0.3 carat categories now stand at just below 10% higher than during this time last year.

One trader in New York said: "There is appetite to buy goods, but on longer terms. One very interesting thing is that top, top-end GIA is in demand. Traders are willing to pay extra premium for that. For example, 30 points, I sold at better prices than a few weeks ago."

    Current Levels   2006 Low 2006 High  
    Index Jan 04 = 100

Change from week ago

Change from year ago

Index Date W/E Index Date W/E Year to Date Change
  Overall 125.8

 -0.9%

5.7%

122.3 05-Feb 128.3

22-Jan

0.3%

                   
1 ct Fine 117.0

4.2%

0.3%

107.2 12-Feb 121.8

19-Feb

8.4%

  Commercial 123.3

0.2%

5.8% 111.3 08-Jan 130.0

19-Feb

7.3%

  Mixed 153.5

-1.5%

2.7% 149.0 08-Jan 171.2

26-Feb

-3.3%

                   
0.5ct Fine 131.3

-0.9%

9.1% 122.4 15-Jan 139.9

29-Jan

-2.4%

  Commercial 120.0

-2.5%

-3.7%

119.8 08-Jan 129.7

22-Jan

-1.1%

  Mixed 104.3

3.9%

-5.8%

97.4 01-Jan 104.3

19-Mar

7.2%

                   
0.3ct Fine 125.9

-12.9%

8.5% 117.9 05-Feb

147.0

05-Mar

-5.1%

  Commercial 132.9

-2.3%

8.9% 119.9 05-Feb 142.9

01-Jan

-4.8%

  Mixed 127.4

6.3%

9.8%

112.1 19-Feb 133.5

01-Jan

-10.2%

The definitions of our groupings are:
Fine: Goods better than I colour and VS2 and above. 
Commercial:  K/SI3 and above, excluding the Fine category 
Mixed:  The rest down to M/I3  
 

The weightings used in the calculation of these indices are chosen to reflect world production.

 
 
   
   
   

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