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Diamond & Specialty Minerals Summary for May 3, 2024

2024-05-03 21:50 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a so-so 86-82-142 as the TSX Venture Exchange added one point to 581. Stability has returned to the shaky basement floor that has been Paul Zimnisky's global rough diamond price index chart for the past three months. Last week what had been a gentle rise since late January morphed into a gentle decline as Mr. Zimnisky shaved nearly 2 per cent from the rightmost weeks of his chart, as late-to-arrive data painted a gloomier picture.

There were no tardy reports ahead of this week's chart -- or if there were, they were in line with earlier information -- and so Mr. Zimnisky did not alter his earlier curve. Better yet, this week's rough diamond prices added 0.1 point to his index, which now stands at 147.4 points, up 0.1 per cent from a week ago. Yes, one-week comparison is the only advance among his seven comparisons over time, and then by the slimmest of margins. Still, it is better than last week when all seven comparisons from one week to 10 years ago were foundering in a sea of red.

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