Rapaport Press Release
Rapaport Issues April 2011 research Report "Positive & Cautious"
RAPAPORT... Certified polished diamond prices rose in April but at a slower pace as caution set in amongst dealers seeking stability after concerns that trading may have over-heated in the previous month. Ongoing political instability in the Middle East and global economic uncertainty causing high inflation and volatility in commodities markets, have added to the cautionary mood.

In the just-released Rapaport Research Report “Positive & Cautious,” which can be found at www.diamonds.net/report, average asking prices on RapNet increased 2.4 percent during April. Half caraters were up 3.5 percent, one carats up 2.4 percent and three carats remained flat. Prices of small, inexpensive diamonds at Rapaport Auctions continued to strengthen during the month. Average prices on RapNet were 19.6 percent above levels seen at the end of April 2010.

Rough prices continued to rise, particularly for large, top quality rough. Spot tender prices also increased although at a slower pace. Supply remains in line with 2010 as production grew by about 3 percent in the first quarter of the year. Manufacturers still appear to be speculating on rough by holding goods in inventory rather than filtering it through for manufacturing, resulting in polished shortages.

Dealers and manufacturers took a slight breather in April but have maintained a positive short-term outlook for the market. As a result, the slight lull may be a temporary calm before the storm as expectations are high for strong jewelry sales in May and positive Las Vegas shows. While trends in the dealer market in the past two months may justify the positive outlook, the same increases are still not evident at the consumer level, despite the apparent uptrend.

Additional information about the state of the diamond market is available in the just-released Rapaport Research Report - “Positive & Cautious” at www.diamonds.net/report and via email by contacting specialreport@diamonds.net.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.diamonds.net

About RapNet: The RapNet – Rapaport Diamond Trading Network- www.rapnet.com is the world’s largest diamond trading network. With daily listings of over 678,000diamonds valued atover US$4.7 billion and over 6300 active trading members in over 74 countries, RapNet is the primary international marketplace for GIA and other certified diamonds. RapNet is available in English and Chinese.

 



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