Image credit: GeorgeB2 (Pixabay)
(edahngolan.com) - Conventional wisdom holds that trading in the diamond industry should have come to a complete stop in April. This is largely true, but there are some exceptions. Polished diamond trading has continued, though at a much reduced level. Prices naturally declined, down a low single digit. Month over month, polished diamond prices fell an estimated 1.7% in April. This is impressively steady compared to price changes during normal times. And much better than wheat (-4.7%), coffee (-11.9%), or oil (-7.2%). The worst of COVID-19 seems to be behind us. Stores around the world are starting to re-open, led by China and Hong Kong. Cautiously, consumers will return as well. Although unemployment is sky high, weddings will be held and bridal jewelry will be purchased.
