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Market Update

Heading into a New Year

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Last week we published our monthly report on the Mercury Diamond Global Tracker™ (MDGT™) for December, showing that prices of most round diamond size ranges between 0.30 carats to 2 carats rose during the last few months of the year. At the same time, our index, which covers a very wide range of goods has declined. It seems puzzling, but it really hides a sad truth about demand for polished diamonds around the world, mainly in the US and China, the two largest consumer markets.

Prices of smaller goods, below one carat, continued to rise in December after increasing in November, responding to rising demand in the consumer market. Larger goods, however, which suffered from price declines in November, experienced a long-awaited revival, rising 1-1.5% in December, according to the Mercury Diamond Global Tracker™ (MDGT™). The MDGT™ index averaged 109.45 in December 2018.

A sharp drop in demand and a rise in inventories characterized trade in December. Polished diamond traders around the globe were feeling blue after retail sales of diamond jewelry failed to meet expectations.

As the year draws to a close, we at Mercury Diamond stopped to take a look at the state of polished diamond prices over the past year. We noticed that prices have been lingering for some time and decided to look at what some of the other diamond indexes in the market show. No surprise here, we all show pretty much the same scenario.

Familiar with the relationship status ‘It’s Complicated’?

That is a good two word description of the diamond jewelry holiday selling season so far. As you may recall, diamond jewelry sales were sluggish during the 2017 holiday season, but ended with a last-minute rush by consumers. That happened during the last two weeks of December.

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