Quiet diamond market due to summer holidays

Summer holidays are usually accompanied by the quiet global diamond market, and this year is no exception with polished trading being very weak in large polished centers such as Israel and Belgium.

The colored diamond market still looks rather good because the prices of colored diamonds are lower than usual, attracting many buyers that are on the lookout  for good deals.

U.S. is also experiencing slowdown in diamond sales with a ‎strong focus being only on bridal sector that is still achieving steady sales.

The prolonged global economic weakness is also doing their part in slowing global diamond trade. Many diamond analysts believe that the prices of polished diamond won't stabilize before the ‎fourth quarter.

The global diamond production is set to be significantly lower in 2012 compared to previous year with De Beers already producing 13% less in the first half of this year as compared to the same period in 2011.

It is difficult to make reliable predictions for diamond market with the ongoing economic weaknesses, strong dollar, and the decrease in global diamond production.  The start of the fourth quarter should give more indicative pointers for the rest of the year.