Polished Diamond Prices Insrease Drastically in May
Diamond Prices have gone up yet again, pitching 12.3% in May. According to the IDEX Polished Diamond Price Index, the prices for the month of May have significantly exceeded prior months.
Large sized diamonds such as, three, four, or five carat stones have gone up to 47%, 64%, and 77%, topping the passed year by a great amount.
After having a stable market for about two months, prices soared on May 23rd and then again on may 27th.
There must be a major cause to such a great change to diamond prices and values. The U.S. own about half of the diamond jewelry produced in the entire world. When it happened to be that in the past the U.S. economy would slow down then the diamond demand also lessened making diamond prices diminish. This time the situation differs enormously. While the demand for diamonds was not as strong in the U.S. recently, the markets in all other countries around the world have been growing tremendously, demanding better quality and more diamond jewelry. At the same time, keeping diamond prices elevated.
Tiffany & Company is a perfect example of the drift of international markets. In the U.S. the sales of the company were doing poorly, while in all other countries, except for Japan, the demand for diamonds at Tiffany was very strong. The recent condition of the U.S. economy can be viewed as healthy for the industry rather than comparing it to global markets and viewing it poorly.   Â