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Fancy Color Diamond Prices Rise on Shortages, Strong Holiday Sales
Feb 11, 2016 3:36 AM
By Rapaport News
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RAPAPORT... Fancy color diamond prices increased 0.3 percent on average during the fourth
quarter of 2015 as better-than-expected holiday sales outweighed sluggish Asian
demand, according to the Fancy Color Diamond Index. Lower supply from diamond
producers have led to a shortage of fancy yellow gems.
“Mining
companies have effectively shut down a considerable portion of their rough
diamond production, especially in Africa, around mid-2015, resulting in market
shortages across color and size categories, as reflected in the index results,” said Jim Pounds, advisory board member for the Fancy Color Research
Foundation (FCRF) and senior vice president for diamond management at Dominion Diamond
Corporation.
Prices for the fancy yellow segment
performed the strongest, increasing 1.1 percent, the FCRF said in a statement
February 9. Within the yellow category, 3-carat diamonds demonstrated a
2.7-percent price increase and 5-carat stones rose 4.4 percent, likely
driven by low availability in rough tenders.
White diamonds
also showed some increases during the quarter. The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.9 percent during the three months. RAPI for
1.5-carat diamonds increased 0.3 percent and RAPI for 3-carat diamonds fell 1
percent. RAPI for 5-carat diamonds declined 2.8 percent.
Out of non-yellow colored diamonds, the prices of 1-carat and 1.50-carat
fancy vivid blues and pinks increased the most, advancing 4.4 percent and 3.7
percent respectively. Fancy-blue prices recorded small declines overall after
rising significantly in the previous two calendar quarters.
The market is showing clear preferences towards fancy intense and fancy
vivid at the expense of the lighter color fancy category, for which demand was
soft, the FCRF said.
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Tags:
fancy color, Fancy Color Diamond Index, Fancy color diamonds, Fancy Color Research Foundation , prices, Rapaport News
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