Diamond prices were highly volatile in February. The overall PolishedPrices index finished the month at 156.3 points, 1.5% above the level at the end of January.
Although during February the index did record its lowest value since May last year. The average for February stood at 156.2 points, 0.7% above the average for January and 17.5% above the average for February 2011, Polishedpices.com reported.
The index remains well within the ranges we were expecting at the start of the year.
At the beginning of the year Polished Prices were expecting prices to remain fairly soft throughout the first quarter.
The low point of the year so far, recorded on 27th February, was the level that we predicted for the end of March when it was expected to turn. Given that the low point has been reached earlier than expected, we anticipate prices to remain level.
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