Polished diamond prices stabilised in December, Rapaport writes in a press release.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds edged up 0.3% in December. RAPI for 0.30-carat diamonds rose 1.2%, while RAPI for 0.50-carat stones increased 0.6%. RAPI for 3-carat diamonds slid 1.7%, according to a Rapaport report.
The 1-carat RAPI softened 0.8% in the fourth quarter and fell 5.3% for the full year. The index declined for the sixth consecutive year in 2017, as noted in the Rapaport Diamond Price Statistics
“The US retail environment is undergoing unprecedented change, with strong online sales creating greater competition and price uncertainty due to internet discounting. Jewelers and diamantaires who provided added-value services and implemented strategies to engage with customers online and in-store had a successful holiday. In mainland China, more consistent local sales are replacing volatile Chinese tourist shopping elsewhere, with diamond engagement rings gaining popularity among Chinese millennials.
Diamond trading slowed in December, with US and Belgian dealers on vacation during the Christmas-to-New Year break. Dealers are encouraged by reports of positive retail sales, but are waiting for memo returns before assessing the holiday season.” says Rapaport