prices for certified diamonds stabilized, while dealers were cautious and trade turnover was small, Rapaport reported.
Liquidity in the centers of cut remains under pressure due to the devaluation of the Indian rupee, high prices for rough diamonds and limited bank lending. Diamonds producers maintain fairly large inventories ahead of the sales season in the fourth quarter, and retail jewelry companies are expected to make purchases later this year.
The price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat in August fell by 0.1%. RAPI for diamonds weighing 0.30 carats increased by 1.2%, and for diamonds weighing 0.50 carats - increased by 0.8%. RAPI for diamonds weighing 3 carats over the past month fell by 0.6%.
The price index for diamonds decreased compared to early 2013, as in June and July polished prices fell. There is a steady demand for diamonds of lower price categories. The greatest demand is for stones weighing 0.3-0.4 carats and purity VS-SI. The RAPI index for diamonds weighing 0.30 carats rose from January to August by 4.8% due to a steady demand for these products in the US and China.
As the recent September Rapaport report called "Liquidity Crunch" says, the weakened position of the rupee continues to put pressure on the world trade in diamonds. It is assumed that Indian diamantaires will lower prices at the September fair in Hong Kong, trying to secure an inflow of funds.