Market Comment

News: Sentiment positive ahead of Thanksgiving. Prices steady, with goods moving at deep discounts. Select diamonds in short supply. Less-desirable goods slow. Polished production resuming after Diwali. Feud over Kimberley Process plenary: EU slams lack of Russia debate as chair Ahmed Bin Sulayem criticizes Europe’s “single node” plan. KP reinstates Central African Republic. Hong Kong’s TSL focusing on cost control after fiscal H1 sales -36% to $111M, net loss narrows 25% to $5.6M. Indian govt. proposes clearer labeling rules for natural and synthetic diamonds.

Fancies: Fancy-shape prices stabilizing, but decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes in demand. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.