Market Comment

News: Market improving as holiday shopping begins. Round prices up 2% to 3% since mid-Oct. in some categories and 5% in 0.30 ct. SI1s, but discounts remain high. Strong Black Friday online sales. Steady US demand for 1 to 2 ct. commercial goods boosts India trade as Mumbai offices reopen. India Oct. polished exports -33% YOY to $1.3B, rough imports +9% to $1B as manufacturers bought ahead of shipment pause. Some retailers abandoning synthetics amid falling profits; “authentic” is Merriam-Webster word of the year. Cushion, 15.48 ct., fancy-intense-pink, IF diamond fetches $10.8M ($694K/ct.) at Christie’s HK. World Wildlife Fund urges industry to improve sustainability efforts.

Fancies: Fancy market slowing. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Elongated fancy shapes selling well. Goods with medium and short ratios weak. Prices of square Cushions falling amid low demand and high inventories. Marquise prices holding up following drop in availability. 0.30 ct. seeing good sales. Orders down for 0.70 to 1.20 ct. diamonds. Well-cut stones in short supply. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and hard to sell.