IDEX Polished Price Index: Another Hefty Fall During July

(IDEX Online) - Polished diamond prices suffered another hefty fall during July as geopolitical uncertainties continued to cast a dark shadow over the diamond market.

The IDEX Polished Price Index has been losing an average of 1.8 per cent a month over the last year.During July it fell by 2.57 per cent, a slight improvement on June's 3.04 per cent drop, the worst since the current decline began last February.De Beers announced a further steep drop in rough sales last month - despite significant price reductions - down almost 36 per cent to $410m, its lowest figure since May 2021.And India is braced for a 15 per cent drop in overall gem and jewelry exports this year amid rising interest rates, inflation, and a lack of consumer confidence.Manufacturers are reducing their inventory of natural diamonds, playing a wait-and-see game as rough prices decline, and increasingly turning instead to lab growns.IDEX Online subscribers please click here to read the full report.

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain