21:10:39 EDT Sun 02 Oct 2022
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Diamond & Specialty Minerals Summary for Aug. 12, 2022

2022-08-12 20:09 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 105-75-130 as the TSX Venture Exchange rose seven points to 680. Weekly drops in rough diamond prices remain modest, but since mid-February they have been relentless. Paul Zimnisky's global rough diamond price index revealed another 0.2-per-cent drop in rough prices this week, a 0.6-per-cent drop in the past month and a 2-per-cent decline since early May. Since the all-time high reached in mid-February, prices have now declined 6.6 per cent. Still, prices remain up nearly 13 per cent over the past year, as the nearly two-year-long surge in rough prices ended with a bang -- a 9-per-cent gain in just three months through the early winter.

Numbers and percentages are a measure of prices -- at least until late-arriving data forces a tweak of the trend -- but the usually optimistic diamantaires and analysts and the ever-optimistic mining promoters remain hopeful that the rise will resume with vigour renewed. After all, how could they be wrong? Demand is growing -- or at least flat -- and mines have scaled back production in recent years with few newcomers on the horizon.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2022 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.