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Diamond prices see more positive trend in November

Prices at tenders are now around 10% cheaper than at De Beers

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Diamond prices rose for some categories in November as pre-holiday demand and a drop in polished production halted the negative trend of the past eight months, according to Rapaport’s RapNet Diamond Index.

The RapNet Diamond Index (RAPI™) for 1-carat goods, reflecting round, D to H, IF to VS2 diamonds, edged up 0.1% as a price increase for IF to VVS1 goods canceled out a decrease in VVS2 to VS2 prices.

Meanwhile, the index rose 1.6% for 0.30-carat stones and 1.4% for 0.50 carats, but fell 0.3% for 3 carats.

Inventory of round, D, internally flawless diamonds in 0.30-, 0.50- and 1-carat sizes also declined sharply, leading to higher prices.

De Beers reduced rough prices by 10% to 15% at its December sight to stimulate demand, but sightholders said the goods “remained unprofitable”. Prices at tenders are now around 10% cheaper than at De Beers.

Additionally, traders were uncertain whether the improvement would continue beyond the holiday season and at what point India’s polished production would return to normal levels.

The US stock market also surged after Donald Trump’s election as US president, boosting expectations for luxury spending.

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