Rapaport Press Release
Rapaport Releases July 2011 Research Report – “Quiet in Perspective”
RAPAPORT... PRESS RELEASE,  August 3, 2011, New York: Certified polished diamond prices were stable in July as the prevalent seller’s market softened through the summer months. There was some price resistance from buyers, who avoided making large inventory purchases.

The RapNet® Diamond Index (RNDI)™ for 1.00 ct. diamonds fell 0.5% in July to 108.34. The 0.50 ct. category declined by 0.8% and 3.00cts. grew by 0.6%. The RapNet Composite Index increased by 0.2% to 180.14 during the month.

Rough prices rose by an estimated average of 10% in July, continuing the strong uptrend seen in the first half of the year, while mining companies have kept production at 2010 levels.
 
According to the just released Rapaport Research Report,  “Quiet in Perspective,” diamond markets quieted in July, compared to buoyancy seen in the previous months. The stability should not be seen as a general slowdown in the market. The July and August period is traditionally one of lower trading levels as U.S. wholesalers, as well as Belgian and Israeli diamond bourses, take vacations.

The outlook for the second half of 2011 remains strong. Growth will continue to be driven by retail expansion in China and India, and modest stability in the U.S., despite lingering economic concerns there. Ratings agencies continue to mull downgrading the U.S. credit rating despite the agreement reached by government to raise the debt ceiling. This could lead to higher inflation and further weaken the dollar, placing additional pressure on U.S. consumers and subsequently the downstream diamond industry.

Additional information about the state of the global diamond market is available in the just-released Rapaport Research Report, “Quiet in Perspective,” which  can  be found at www.diamonds.net/report or via email by contacting specialreport@diamonds.net.

Rapaport Media Contacts: media@diamonds.net.
U.S.: Sherri Hendricks +1-702-893-9400 
Mumbai: Mittal Kalsy, +1-91-99-2093-0080

About the RapNet Diamond Index (RNDI): The RapNet Diamond Index is based on the best asking price in hundred$/ct.for the top 25 quality round diamonds (D-H, IF-VS2, RapSpec-1) offered for sale on the RapNet – Rapaport Diamond Trading Network. The RNDI is provided for various sizes. The Composite RapNet Index reflects the average price of the half carat, one carat and two carat RNDI. www.rapnet.com has daily listings of over 700,000 diamonds valued over US$5 billion and 6200+ members in over 74 countries.

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.Rapaport.com.

 



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