Due to weak demand in the US and China, the two biggest markets for diamond jewellery, diamond prices fell.
In April, polished trading was less active than normal, according to Avi Krawitz, senior analyst at Rapaport. The spike in consumer prices over the previous year has hurt discretionary spending and made retailers less likely to purchase goods.
Dealers are hopeful that the approaching Las Vegas events will improve sentiment and increase demand for the second half, but rough and polished trade is predicted to remain cautious in May.