(IDEX Online) - Polished diamond prices in Israel decreased 0.16% during week seven of 2018, with the GDX, Carats.io's general index, closing the week at 10,097.64. The index represents the most tradable diamonds in the Israeli diamond market.
Carats tracks the asking prices of tens of thousands of GIA certified, round diamonds offered on Get Diamond by the Israel Diamond Institute.
On average, the overall GDX index rose 0.08% during week 7 (February 11-18), maintaining the price increases of the previous week (February 4-10).The most distinct rise was by GDX-J, which represents the leading goods for the American jewelry market. It completed a 0.03% rise overall during the week, and a 0.12% average rise. The top performer during the week was GDX-I, which reflects the performance of the top color and clarity goods offered in the Israeli diamond market.
The two indexes succinctly reflect the key trends of the previous week, chiefly the polished diamond demand generated by the International Diamond Week. Prices started to rise on Tuesday January 30 prior to the show as traders were preparing for the trade show. Prices then rose strongly on Sunday February 4, and continued to push throughout the week as the trade event rolled on. During the weekend prices have softened on average by 0.04%.
GDX 1+, a diamond index representing the relatively larger diamonds in the market, declined 0.33% during the week, and GDX-I, and index of investment grade diamonds softened by 0.21%. GDX-D, which covers smaller diamonds with Dossier reports, inched up 0.02% during the seventh week of 2018.
During January, the first month of Carats.io's price indexes, prices posted a modest increase. From start to end, GDX rose 0.4%, GDX-J posted the greatest rise (0.8%) and GDX-I the smallest rise (0.2%). The increases reflected demand by American retailers who sought to restock in the post-holiday season period. Retailers' purchases were specific and targeted goods for in-store setting, as reflected by GDX-J.