Cashing in on continued demand for rough diamonds, prices at the Diamond Trading Company’s Sight this week were increased for almost every single box. With few exceptions, prices were hiked by 5%-10% across the board. According to initial reports, an exceptionally large amount of goods is being sold.

 

Diamond traders are speaking of a DTC shock effect, a combination of price increases and a very large Sight, speculating that the leading diamond supplier is trying to stifle the wide speculation purchases and high premiums.

The price of the nicer goods is up 5%-10%, Commercial boxes were hiked by some 10%-13% and the popular smaller goods climbed 3%-15.5%.

It is still early to estimate the size of the Sight, however based on the first two days, insiders place it at $850 - $900 million, one of the largest Sights in recent memory.

Due to the size of the Sight, the sharp price changes and a cautious mood in Mumbai, trading in the boxes was limited and premiums are expected to decrease.