Market Comment

News:

Steady demand for elongated fancy shapes. Price declines continue in 0.30 to 1 ct. rounds, with goods up to 0.29 ct. weak. US nixes tariffs on polished diamonds from EU. Industry watching ongoing US-India trade talks. Botswana states intention to become controlling shareholder in De Beers, while Angola wants minority stake. Business at Hong Kong show down; little interest in rounds up to 1 ct., but performance better for 2 ct.+ as well as elongated fancies and fancy colors. Mastercard forecasts US holiday sales +3.6% YOY, with online +7.9% and in-store +2.3%.

Fancies:

Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.