Rapaport Press Release
RAPAPORT... PRESS RELEASE, December 6, 2011, New York: Certified polished diamond prices rose slightly in November. Polished buyers maintained caution and avoided large-scale purchases but suppliers still held firm on their prices. Confidence improved but the volume of trading taking place remains below levels expected for this time of year.

The RapNet Diamond Index (RAPI™) for 1.00 ct. diamonds rose 1.9 percent in November to 98.26. The 0.30 ct. category increased by 1.2 percent to 16.69, while the index for 0.50 ct. rose by 0.6 percent to 35.02. RAPI for 3.00 ct. diamonds fell 0.6 percent to 352.77.

Similarly, rough prices stabilized and demand improved slightly in November but trading remains weak. Indian diamond manufacturing is below capacity and confidence there continues to be impacted by tight liquidity and the recent sharp depreciation of the rupee.

According to the just released Rapaport Research Report, ‘Signs of Stability,’ jewelry retailers went into the season with relatively large inventories having aggressively bought goods in the first half of the year. Initial reports indicated a strong start to the season for general retail over Thanksgiving weekend but the momentum slowed slightly thereafter. Overall retail sales in November were disappointing.

The diamond industry therefore remains cautious in its trading. The euro zone debt crisis feeds uncertainty in diamond markets beyond European borders. While some sense of normalcy returned to the trade in November, the real test will come in January and February when a more complete assessment of the season can be made, as retail inventories would possibly have been depleted and stronger stability achieved.

Additional information about the state of the global diamond market is available in the just-released Rapaport Research Report, “Signs of Stability,” which is attached and can be found at www.diamonds.net/report or by emailing: specialreports@diamonds.net.

Rapaport Media Contacts: media@diamonds.net
International: Alissa Goren +1-718-473-0082
U.S.: Sherri Hendricks +1-702-893-9400 
Mumbai: Mittal Kalsy, +1-91-99-97699-30069

About the RapNet Diamond Index (RAPI): The RAPI is based on the best asking price in hundred $/ct. for the top 25 quality 1 ct. round diamonds (D-H, IF-VS2, RapSpec-2 and better) with GIA, HRD or AGS grading reports offered for sale on RapNet – Rapaport Diamond Trading Network. The RAPI is provided for various sizes. www.rapnet.com has daily listings of over 750,000 diamonds valued over US$5 billion and 6300+ 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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