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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 86-73-151 although the TSX Venture Exchange lost three points to 546. After the discouraging downward shove that Paul Zimnisky gave his global rough diamond price index two weeks ago, compounded by last week's significant drop, the market was relieved to see rough diamond price stabilize this week.

In fact, not only did Mr. Zimnisky not readjust the data to account for late to arrive information, but the new data showed a slight improvement. And so, Mr. Zimnisky now pegs his index at 148.8 points, up 0.2 from last week's 148.6, an increase of 0.1 per cent. Unfortunately, all the other recent yardsticks are still in the red, as rough prices are 28.3 per cent below their all-time high of 207.3, set two years ago.

Diamond miners bemoaned the prices that prevailed in the 2010s, an era when nearly all economic assessments from dream sheets to bankable feasibility studies included price escalators, since demand for rough diamonds must surely outstrip supply. They were partly correct of course, as supply of mined diamonds did peak during the decade, but unfortunately, many of those in the market for diamond jewellery eagerly turned to synthetic gems.

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