23:22:29 EDT Tue 06 Jun 2023
Enter Symbol
or Name

Login ID:

Diamond & Specialty Minerals Summary for May 12, 2023

2023-05-12 20:12 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 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.

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

© 2023 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.