IDEX Polished Price Index: The Downward Slide Continues in July
August 04, 24
(IDEX Online) - The IDEX Polished Price Index fell by 3.12 per cent in July, its biggest monthly post-Covid drop.
It represents an acceleration in the current slowdown. In June it was down 2.00 per cent, and in May it fell 1.02 per cent.
In addition to ongoing global economic woes, weak consumer demand, China's slow recovery, sanctions, lab growns and multiple uncertainties, we're now into the summer vacation season, for both traders and retailers. So an already quiet market just got a little quieter.
De Beers cut production by 15 per cent during Q2, India reported exports in June down by 26 per cent and prices of fancy color diamonds, usually resilient even in times of trouble, fell during the least three months for the first time in almost four years.
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