RapNet Diamond Index Sinks on Chinese Slowdown, Weak Rupee

The Economic Times reported that the RapNet Diamond Index for 1-carat certified polished diamonds declined by 2.1 percent in July, as per Rapaport’s report for the month.

The report states:

The certified polished diamond prices fell in July due to China’s economic slowdown, which significantly reduced diamond demand resulting in overstocked retail inventories. Domestic jewellery market also plummeted due to the weak rupee and government programmes intended to curb gold consumption and jewellery demand was also responsible for the slump in prices.

Click here to read the full report from The Economic Times.