Year-on-year diamond prices for February were up 1.9 per cent, the biggest monthly increase for over two years.
They have been climbing for almost a year now and appear to be finding their level after recovering from the doldrums of the first Covid waves. After the disruption of the early months of the pandemic, the graph has resumed its traditional wave pattern. Monthly prices were lower than those for the previous year from March 2019 until January 2021, but have now broken through the x-axis. Prices were badly hit by the pandemic in March and April, when they were 4.8 per cent down, but they have been rising in fits and starts ever since.