(ehudlaniado.com) - After the July declines, polished diamond prices were flat in August. The Mercury Diamond Global Tracker™ (MDGT™) averaged 113.85 in August 2018, up 0.03% over July. This is not unusual behavior for prices in August, a period of limited activity between polished diamond wholesalers. Polished trade is generally very limited, as traders are on their summer vacations. Historically, prices fluctuate very mildly in August, and at times are unchanged. MDGT™ fluctuated in the first six months of the year. Prices were up in January and February, declined in March, rose again in April and May, then hit the recent mixed activity in June, which was followed by a decline in July and up by a minute 0.03% in August, despite the ongoing decline in trading activity. While the flat performance of the index is seasonal, it reflects diamond traders’ desire not to rock the boat. They are hesitant about the market, feeling that they lost momentum after the strong performance in the first few months of the year. Now they need to find their footing again. That usually happens at the Hong Kong show in mid-September. Then they tend to raise prices and gauge the market’s reaction. If demand is strong, they keep the higher prices. If, however, buyers show resistance and buy limited quantities, prices start to decline until the right balance is found.
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