Prices falling, with India under pressure from low sales and rising supply. US sellers doing better as they are not over-inventoried. Dealers and jewelers buying on demand only. Sluggish trading at June Hong Kong show, with low dealer attendance. Chinese consumer confidence in diamonds waning; lack of sales impacting manufacturers. Hong Kong’s TSL warns of heavy FY losses amid weak Chinese diamond demand. Luk Fook estimates 30% to 40% increase in FY profit, reflecting lower exposure to mainland. De Beers June sales -31% YOY to $315M as some sightholders reject loss-making boxes. Okavango June sales -34% YOY to $67M. EU extends sanctions sunrise period to Mar. 2025 and adds grandfathering rule.

Tourism could be central to the country’s post-mining plans as it seeks to diversify its economy and prepare for life after diamond production.

With sales growth outpacing the women’s segment, fine jewelry for the gents is hotter than ever.

Dealer and author Benjamin Zucker reminisces about his rich professional journey – the extraordinary stones, illustrious publications and meaningful relationships.