Demand for polished diamonds improved in January but prices continued to drop, according to the RapNet Diamond Index (RAPI).
The price of 1-carat laboratory graded diamonds fell 0.4% in January, the price of 0.30-carat diamonds dropped by 0.9%, price for 0.50-carat diamonds declined 1%, while price for 3-carat diamonds was flat during the month.
According Rapaport, jewellers are resisting buying large quantities of diamonds as inventory levels remain higher than usual for this time of year.
Rapaport added that expectations are low for jewellery sales during the Chinese New Year after a disappointing Christmas shopping season.
