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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was an upbeat 90-72-148 as the TSX Venture Exchange gained nine points to 580. Well, that respite was brief. Rough diamond prices -- flat over the past few weeks and flattish since late July -- resumed their brisk decline this week as Paul Zimnisky's global rough diamond price index shed nearly a full point. The only good news is that late-to-arrive data had prompted him to readjust last week's fix 0.3 point higher, so that the net result is a setting at 135.9 points, 0.6 point below where we thought the index was at a week ago.

The drop puts all of Mr. Zimnisky's time comparisons in the red once again. Prices are 0.7 per cent lower than a month ago and a full 5 per cent below where they were in early June. Indeed, the slide has been relentless since rough diamond prices, rebounding after the COVID-19 collapse in 2020, overshot their way to an all-time high in early 2022. Mr. Zimnisky's index now sits 34.5 per cent lower than the 207.3 points where it sat in mid-February of 2022.

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