Diamond Prices Slide in March, Rapaport reports

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Diamond Prices Slide in March, Rapaport reports

 

Diamond prices fell in March as the spreading coronavirus led to a dramatic decline in the global economy, the Rapaport Group reported.

Diamond markets are under pressure and facing a severe liquidity crisis as jewelry retail, diamond manufacturing and trading shut down.

The RapNet Diamond Index (RAPI™) for 1-carat diamonds dropped 6.8% during the month and 8.7% in the first quarter.

 

Diamond Prices Slide in March, Rapaport reports

 

Prices slumped amid slowing demand and increasing supply, Rapaport reported.

Manufacturers bought large volumes of rough between December and February, anticipating strong inventory replacement after a good US holiday season.

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