Polished Diamond Prices Drop in March

RAPAPORT reported that polished diamond prices fell in March as trading volume was affected by weak demand.

As quoted in the market news,

Diamond market sentiment was weak throughout the first quarter. Jewelry retailers avoided large inventory purchases and buying was focused on satisfying specific demand to fill existing orders. The RapNet Diamond Index (RAPI™) for 1-carat laboratory-graded diamonds fell 2.5 percent in March. RAPI for 0.30-carat diamonds declined 2.4 percent, while RAPI for 0.50-carat diamonds dropped 2 percent. RAPI for 3-carat diamonds fell 1.5 percent during the month.

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