Rough Diam Prices (Fri, 04 Feb) - Mentioned by Will Purcell Rough diamond prices continue to surge, according to Paul Zimnisky's global rough diamond price index, which now shows a big upward crag generated by late-arriving data covering the past several weeks.
The new calculation puts prices 0.7 per cent above last week's readjusted level, adding nearly 10 per cent to the value calculated just a week earlier. Accordingly, prices are now up 32 per cent over the past five years and nearly 20 per cent over the past decade, putting them at an all-time high according to Mr. Zimnisky, one topping the bubbly high of early 2011 by perhaps 10 per cent.
Surging rough diamond prices are sweet news for Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), especially since much of the recent gain is reportedly occurring among smaller and lesser gems that are plentiful at the company's 49-per-cent-owned Gahcho Kue mine in the Northwest Territories.