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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 97-83-130 as the TSX Venture Exchange rose one point to 617. Rough diamond prices edged ever so slightly downward this week, according to Paul Zimnisky's global rough diamond price index, leaving prices still 11.4 per cent below the record high set early last year. Optimists -- diamantaires, promoters and many analysts -- will quickly point out that prices had been down 13.4 per cent from that high in the first few days of 2023, but pessimists -- investors skeptical of diamonds -- will grump that prices are down about 1 per cent over the past two months.

Diamonds are a tough sell these days, unlike most other commodities that are also experiencing price drops. One that is not in decline is uranium, which bottomed at a generational low in 2016 at about $20 (U.S.) per pound. Prices have been zigzagging higher since then and have averaged just over $50 (U.S.) per pound over the past year. Of course, veteran investors will recall the heady days of 2007, when spot uranium soared to near $140 (U.S.) per pound -- and the long-term price was not far behind. That, unfortunately, was before the Great Recession kicked out one leg supporting the energy metal, and then the Fukushima nuclear disaster in Japan tripped the other.

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