Market Comment

News:

Market split continues. US prices stable, India prices down. 2 ct.+ rounds and long fancies steady. Rounds under 1.20 ct. weak. Nov. RAPI for 0.30 ct. -6%, 0.50 ct. -5.1%, 1 ct. -2.6%, 3 ct. +0.1%. US seeing demand for 2- to 4-carat, F-J, VS-SI goods. Thanksgiving, Black Friday and Cyber Monday break spending records. Signet fiscal 3Q sales +3.1% YOY to $1.4B, profit +186% to $20M; synthetics now 40% of bridal business, 15% of fashion. Luk Fook fiscal 1H sales +26% YOY to $879M, profit +44% to $77M amid gold-price jump. Antwerp companies get permission to employ foreign workers as polishers and sorters. US and Israel reportedly in advanced talks to ease tariffs. 

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. Indian prices for 0.30 to 0.79 ct. Ovals and Pears softening, except for ideal long models. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.