Diamond market weakens as prices continue to fall

The price index for 1-carat diamonds fell by 1.7% month-on-month and declined by 13.2% year-on-year in March, reaching 3.974 points, based on Rapaport’s global diamond price index calculations, News.Az reports, citing TASS.

The diamond sector showed mixed performance during the month. Rapaport noted that escalating tensions in the Middle East, along with ongoing trade barriers, placed significant pressure on the industry.

Smaller diamonds also recorded notable declines. The price index for 0.3-carat diamonds decreased by 1.1% in March and dropped by 28.6% compared to the same period last year.

The 0.5-carat diamond category saw an even sharper decline, falling by 3.5% month-on-month and by 30.7% year-on-year.

In contrast, larger stones showed relatively smaller movements. The price index for 3-carat diamonds declined by 0.5% in March and by 1.5% over the year.