07:09:49 EDT Sun 21 Jul 2024
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Diamond & Specialty Minerals Summary for Sept. 15, 2023

2023-09-15 20:46 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 94-81-135 as the TSX Venture Exchange rose two points to 590. Not only were rough diamond prices down again this week, according to Paul Zimnisky's global rough diamond price index, but late-to-arrive data wiped out any hint of a recent weekly increase going back to mid-April. And that mid-April moment was just a hint, as were a few weekly plateaus in March in which Mr. Zimnisky's chart drifted sideways. Indeed, the last for-sure increase was logged in February, when rough prices hit 186 -- a six-point increase from an early January low of 180.

Unfortunately, that modest and brief rally now stands as a mere hillock on the road downslope from the crag that was an all-time high of 207.2, logged by Mr. Zimnisky's index in mid-February of 2022. (The early-in-the-year rallies may not be a coincidence, as they occurred in a period after the main holiday seasons, a time when jewellery retailers and manufacturers are frantically restocking.) Mr. Zimnisky now has his index at 156.2 points, down by over 16 per cent from this year's February high and a full 24.6 per cent lower than at the 2022 record high.

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

© 2024 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.