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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 88-71-151 as the TSX Venture Exchange rose four points to 615. Once again, Paul Zimnisky's global rough diamond price index took a turn for the worse. Prices declined 0.4 per cent this week, and that drop piled onto a readjustment based on late-to-arrive data that lowered last week's estimate by 1.3 per cent. And so, the cumulative 1.7-per-cent decline puts current prices 23.4 per-cent below their all-time high, set in February of 2022.

Over the past three months, rough diamond prices have fallen 13 per cent, an annualized rate topping 50 per cent that is akin to the worst of days during the Great Recession. It is also reminiscent of the bleak stretch in the spring of 2020, when diamond miners were effectively unable to sell their production thanks to the COVID-19 pandemic shuttering the diamond sector. The good news is that the trend shows a flattening in the fall, although the one-month drop of 3 per cent remains bleak.

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