December 2007 polished Diamond prices up sharply
In December 2007 Global polished diamond prices. Polished diamond prices in December 2007 were up nearly 5 percent over the same month a year ago, and diamond prices rose 102 percent in December over November 2007, the largest month-to-month gain of the year.
The outlook for polished diamonds prices is bullish. While the U.S jewelry market appears to be soft, other regions of the world are posting solid sale gains for diamond jewelry, especially for larger carat, high quality goods. As long as the demand for diamonds and diamond jewelry remains strong, prices will likely rise.
For the month of December 2007, average global polished diamonds prices by 1.2 percent versus average diamond prices November 2007.
Comparisons are based on the daily average prices during the month versus the same month a year ago (e.g. December 2007 versus December 2006). The year-to-year comparison takes into account the seasonality of polished diamonds and prices.
Polished prices constantly rose through the month of December. There was two price spikes: one early in the month and one mid-month. Sluggish trading at the end of the month yielded some modest softness in prices, but this is a momentary seasonal pause, which often occurs. Diamond Demand Strong for Large Sizes.
Retail jewelers have been saying for some time that their customers want larger, better quality diamonds. Recent price trends for polished diamonds confirm this trend. Large stones showed a dramatic price increase in December, based on month-over-month comparisons, while prices of diamonds in the one two carat range were up only modestly. As in past moths, diamonds below one-half carat in size posted lower prices.
On a year comparison, polished diamond prices showed an even greater bias. Prices for larger stones in the four-to-five carat range rose much more sharply while prices of stones, two carat and smaller posted only a small gain.
Over the three-year period, the price of all polished diamonds has risen by about 11 percent. Rough diamonds prices are rising at a pace faster than polished diamond prices. There is much pressure on cutters and polishers to raise their prices, a trend that is likely to continue.