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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was an upbeat 101-72-132 as the TSX Venture Exchange rose eight points to 615. Rough diamond prices edged another 0.1 per cent downward this week, according to Paul Zimnisky's global rough diamond price index, leaving prices 11.4 per cent below a record high set early last year. Prices were 13.4 per cent below that all-time high in the first few days of 2023, but a solid rebound over the following eight weeks closed that gap to less than 11 per cent. In the eight weeks that have passed since then, Mr. Zimnisky's chart shows a steady -- just not as steep -- decline.

While diamantaires, promoters and analysts all cheer the prospects for rough diamonds in the years to come, historians and veteran diamond investors shudder at recollections of the nine years of stagnation that followed the last big price runup that sputtered in 2011. Indeed, Mr. Zimnisky shows rough prices are up less than 18 per cent since the spring of 2018, and he has them barely 14 per cent higher than in the spring of 2013.

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