The diamond sector has a Volatility Index. Unlike the S&P 500 VIX (Volatility Index) it cannot be accurately measured. But it is very much felt in the gut feelings of diamantaires and it can become a fear factor.
Rough diamonds are selling if their price is correct. The conversation amongst Sightholders this week is that De Beers’ pricing of last week’s sight boxes has been a disappointment. Sightholders refused around 25% of their allocated boxes.
Sales of diamonds for Indian Diwali and Chinese Golden Week are down on last year’s results. We’re now seeing a clear shift in diamond buying power from China, South East Asia and India back to the US.