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The relative index of a gemstone in a specific month is a measure that establishes the average price of that gemstone in a chosen baseline month as 100.00. Subsequent monthly indices are then calculated relative to this benchmark. For instance, if the average price of the gemstone in a given month is 5% higher than the baseline month, the relative index for that month would be 105.00. Conversely, if the average price is 10% lower, the relative index would be 90.00. This relative index allows for tracking changes in the overall price of the gemstone over time. As of a specific date, the relative index represents the percentage change in value compared to the baseline. For example, if the relative index has reached 191.27 as of July 2023, it indicates that, on average, the gemstone is now worth 91.27% more than it was in the baseline month of July 2005. This methodology can be applied to any gemstone, providing a standardized measure for monitoring fluctuations in gemstone prices over an extended period.
Disclaimer: Gemstone's future price forecasts that you see in the pricing chart are for informational purposes only and do not constitute financial advice. Gemmere is not responsible for any actions taken based on this information. While we provide gemstone price predictions, the final purchasing decision and any related agreements are solely at your own risk. Gemmere bears no legal responsibility for transactions based on this data. Any investment decision you make should be made in consultation with your financial advisor and based on your own research and due diligence. Please refer our Terms of Service Page
AI Disclosure - The pricing chart above was generated using combination of AI Tools, historical pricing datasets and AI-ML Algorithms. The predicted price of the gemstone in the future is an estimate and may not be accurate. The actual price of the gemstone may be affected by a number of factors, including market conditions, supply and demand, and the overall economy.
We are committed to using responsible and explainable AI in our pricing model. This means that we use transparent and accountable methods to develop and deploy our AI models, and we strive to ensure that our models are fair and unbiased. We also work to make our models explainable, so that we can understand how they work and why they make the predictions that they do.
We use a variety of techniques to ensure that our AI models are responsible and explainable. For example, we use human-in-the-loop methods to validate our models and to identify any potential biases. We also use explainability tools to help us understand how our models work and to identify any areas where they may need improvement. We believe that responsible and explainable AI is essential for building trust with our customers and for ensuring that our AI models are used in a fair and ethical way.