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Carats.io: Polished Diamond Prices Flat After Important Trade Event Spurs Price Increases
On average, the overall GDX index rose 0.08% during week 7 (February 11-18, 2018), maintaining the price increases of the previous week (February 4-10, 2018).
By: Diamond World News Service
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Feb 19 2018 10:36AM
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Reference: 16102  

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Polished diamond prices in Israel decreased 0.16 per cent during week seven of 2018. GDX, Carats.io’s general index, closed the week at 10,097.64. The index represents the most tradable diamonds in the Israeli diamond market.

Carats Background – description of indexes: Carats tracks the asking prices of tens of thousands GIA certified, round diamonds offered on Get Diamond:

GDX – 0.18 - 2.5 carats, D-I, IF - SI2

GDX-I –0.18 - 2.5 carats, D-F, IF - VVS2

GDX-J –0.18 - 2.5 carats, G-I, VS1 - SI2

GDX-D –0.18 - 0.99 carats, D-I, IF - SI2

GDX 1+ – 1 - 2.5 carats, D-I, IF - SI2

On average, the overall GDX index rose 0.08 per cent during week 7 (February 11-18, 2018), maintaining the price increases of the previous week (February 4-10, 2018).The most distinct rise was by GDX-J, which represents the leading goods for the American jewellery market. It completed a 0.03 per cent rise overall during the week, and a 0.12 per cent average rise. The top performer during the week was GDX-I, which reflects the performance of the top colour and clarity goods offered in the Israeli diamond market.

The two indexes succinctly reflect the key trends of the previous week, chiefly the polished diamond demand generated by the International Diamond Week. Prices started to rise on Tuesday January 30 prior to the show as traders were preparing for the trade show. Prices then rose strongly on Sunday February 4, and continued to push throughout the week as the trade event rolled on. During the weekend prices have softened on average by 0.04 per cent.

GDX 1+, a diamond index representing the relatively larger diamonds in the market, declined 0.33 per cent during the week, and GDX-I, and index of investment grade diamonds softened by 0.21 per cent. GDX-D, which covers smaller diamonds with Dossier reports, inched up 0.02 per cent during the seventh week of 2018.

Week 7 GDX GDX-D GDX 1+ GDX-I GDX-J
Week 6 Closing Value 10,113.52 4,063.56 6,045.75 2,021.03 3,036.10
Week 7 Closing Value 10,097.64 4,064.35 6,025.92 2,016.78 3,036.92
Week-over Week % Change (0.16%) 0.02% (0.33%) (0.21%) 0.03%
Week 6 Average 10,108.00 4,062.75 6,039.54 2,021.18 3,038.90
Week-Over-Week Avg % Change 0.08% 0.07% 0.01% 0.22% 0.12%
Source: Carats.io          

During January, the first month of Carats.io’s price indexes, prices posted a modest increase. From start to end, GDX rose 0.4 per cent; GDX-J posted the greatest rise (0.8 per cent) and GDX-I the smallest rise (0.2 per cent). The increases reflected demand by American retailers who sought to restock in the post-holiday season period. Retailers’ purchases were specific and targeted goods for in-store setting, as reflected by GDX-J.

Jan-2018 GDX GDX-D GDX 1+ GDX-I GDX-J
January Avg 10,008 4,006 6,002 1,999 1,999
January % Change 0.4% 0.5% 0.4% 0.2% 0.8%
Source: Carats.io          


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