September 5, 2024 (FinanceFlashNews.com) – Diamond prices have remained stable in September 2024, following a mild decline earlier in the year. According to the Diamond Prices Index, average prices are as follows:
| Carat Size | Price per Carat (USD) |
|---|---|
| Less than 0.50 carats | 2,190 |
| 0.51 – 0.99 carats | 2,896 |
| 1.00 – 1.49 carats | 4,448 |
| 2.00 – 2.99 carats | 8,918 |
| 5.00 carats or more | 21,536 |
Market Developments
The diamond market has seen a 3.9% decline in early 2024, but experts expect a recovery in demand by year-end, driven largely by the Asian markets, particularly China and India. Synthetic diamonds are gaining popularity, posing a growing challenge to the natural diamond market, particularly in smaller carat segments.
Factors Influencing Trends
- Economic Uncertainty: Global economic instability, including inflation and slower growth, has impacted consumer spending on luxury items like diamonds.
- Asian Market Growth: The rising middle class in countries like China and India is driving a steady demand for diamonds, with a growing preference for both natural and synthetic stones.
- Impact of Synthetic Diamonds: The increasing quality and lower prices of synthetic diamonds are challenging the dominance of natural diamonds. This trend is particularly visible in lower carat weights, where synthetic stones are becoming more popular among cost-conscious consumers.
Outlook for the Rest of 2024
As we move towards the holiday season, demand for diamonds is expected to pick up. High-quality diamonds with excellent color and clarity should maintain or even increase in value, while smaller or synthetic diamonds may see further market penetration. Central banks and other large institutional investors have also maintained interest in diamonds as a stable investment, further supporting market prices.
Keywords: diamond prices, synthetic diamonds, carat size, Asian markets, economic outlook, luxury goods market
