The prices of fancy blue colour diamond rose by 1.7% during the first quarter of 2016, according to a statement released by the Fancy Color Research Foundation (FCRF), which compiles the Fancy Color Diamond Index. However, during the quarter, the prices of fancy yellow diamonds were down 1.8% and those of fancy pink saw a marginal 0.3% rise in prices, the statement added.

According to the Index, overall prices in the fancy colour diamond category remained largely unchanged for the period, though other indices showed that prices of white diamonds varied for different sizes.

The strongest performing price categories during Q1 2016 were fancy intense blue and fancy vivid blue across all carat sizes, as well as fancy vivid pinks 5ct and up, FCRA said. The fancy yellow category, especially in small carat weights, was responsible for most of the category price declines.

The Index figures also show that the first quarter trends remain mostly similar to those seen in 2015. For example, the decline in fancy yellow diamond prices echoes the first 3 quarters of 2015, although it is a departure from Q4 2016, when fancy yellow diamond prices rose 1.1%.

However, on a year-on-year basis, the Fancy Color Diamond Index was up 0.6% as compared to Q1 2015, with fancy blue and fancy pink up 4.8% and 1.7%, respectively, and fancy yellow down 3.3%. As in Q4 2015, across all colour segments, fancy intense and fancy vivid diamonds demonstrated robust price increases, which were offset to some extent by price declines of color diamonds in the “Fancy” category.

FCRF Advisory Board chairman Eden Rachminov commented that “mine supply of highly coveted fancy vivid blues and pinks continues to be scarce, while demand for this category continues to grow. This trend is likely to continue well into 2016 as dealers are holding firm on prices in view of the demand-supply imbalance”.

The Fancy Color Diamond Index tracks pricing data for yellow, pink and blue fancy colour diamonds based on input from leading fancy colour diamond traders in three key global trading centers – Hong Kong, New York and Tel Aviv.