Diamonds have fallen in price by almost 15% over the year – Kommersant

According to Global Rough Diamond Price Index from Paul Zimnisky Diamond Analytics, world diamond prices have fallen by 13.8% over the past 12 months, and by 6.5% since the beginning of this year. The authors of the index note that world prices for diamonds reached their peak in early February last year – since then, the decline has been 18.4%.

Analysts attribute the drop in prices to a correction after rising demand for diamonds during the COVID-19 pandemic. “When people can’t travel or go to restaurants, they spend their money buying luxury goods and jewelry,” he said in an interview with the TV channel. CNBC Ankur Daga, head of the American jewelry and jewelery chain Angara Jewelry. He added that when economies start to “open up” after COVID restrictions, demand moves to other segments, so diamond prices go down.

Another reason for the decline in diamond prices in recent months, experts believe, is the reduction in demand from Chinese consumers against the backdrop of a slowdown in the Chinese economy and growing macroeconomic uncertainty in general.

Evgeniy Khvostik