Prices of fancy colour diamonds rose in the first quarter of the year as major economies like the US continued to rally from Covid-related challenges in 2020.

Data from the Fancy Color Research Foundation (FCRF) showed that fancy colour diamond prices increased by 0.3 per cent during the period in review, with blues and pinks rising by 0.5 per cent and 0.4 per cent, respectively.

David Shara of FCRF commented, “As the US rebounds from Covid-19, we are witnessing an uplift in spirits, which in turn affects the demand for luxury goods. We see a continuous rise in prices of fancy colour diamonds.”

FCRF data further showed that the fancy intense and fancy vivid goods increased by 0.4 per cent compared to a slight decrease of 0.2 per cent in the fancy segment. A noticeable decline of 1.1 per cent was recorded in the fancy 2-carat category. The fancy intense 2-carat group meanwhile climbed 2.6 per cent, followed by fancy intense 3-carats with a 1.9 per cent jump.

Prices of pink diamonds were up 0.4 per cent across the board, led by an increase of 1.5 per cent and 1.4 per cent in 2 and 3 carats in all saturations. Fancy intense pink diamonds of 2 carats rose by 3.4 per cent while fancy intense pinks of 3 carats saw a 2.3 per cent hike.

Blue diamonds recorded a price growth of 0.5 per cent, with 1.5-carat fancy intense blues reaching a 2.6 per cent growth. In the yellow category, fancy vivids of 3 carats and fancy vivids of 10 carats went up 1.1 per cent and 1.2 per cent, respectively.