News: Sentiment mixed as Mastercard reports US Nov./Dec. holiday jewelry sales -5.4%, general retail +8%, e-commerce +11% and in-store +7%. Consumer confidence up in Dec. amid improved outlook for inflation and employment. Diamond trading slow due to end-of-year break and market uncertainty. Cutters maintaining low polished production after 2022 inventory buildup, anticipating cautious post-holiday demand. China slow as Covid-19 outbreak stifles recovery; lockdowns expected to lift for Jan. 22 lunar festival. Belgium 3Q rough imports +8% to EUR 1.8B, volume -30% to 11.7M cts., National Bank of Belgium reports. Rapaport wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
United States:
Dealer trading slow with wholesale market off between Christmas and New Year. Mood among jewelers positive as holiday sales exceed pre-pandemic levels despite year-on-year drop. Reports of strong revenue from lab-grown during festive period. Dealers’ expectations rising for January memo sales and post-holiday inventory replenishment. Finding right merchandise remains biggest challenge due to low supply of newly manufactured diamonds.
Belgium:
Market quiet. Bourses closed and most dealers on vacation for holidays this week and next. European retail sentiment mixed amid economic volatility. Luxury houses driving growth.
Israel:
General uncertainty during holiday lull. Some have extended their Hanukkah break due to weak demand. Suppliers waiting for memo returns to assess inventory needs. Sellers agreeing to lower prices than usual in effort to offload less-popular goods. Dealers struggling to compete with US counterparts and are looking toward niche segments to gain an edge.
India:
Business slow as US and European markets remain shut for holidays. China sluggish due to Covid-19 wave. Devaluation of rupee to INR 83/$1 raising concerns. Strong demand from local dealers for 0.30 to 0.99 ct., D-H, IF-VS2 diamonds with no black center. Rough slow even as restocking season approaches; manufacturers not buying for inventory. Polished production remains limited. Domestic jewelry sector weak amid high gold prices.
Hong Kong:
Little activity during vacation period and with Chinese demand slumping. Hong Kong jewelers running promotions to stimulate spending. Trade has deep concerns about mainland sales in short term but hopes to see recovery in coming months. Lunar New Year outlook unclear. China to open borders in January, offering potential boost to travel retail market.
Market Comment
News: Sentiment mixed as Mastercard reports US Nov./Dec. holiday jewelry sales -5.4%, general retail +8%, e-commerce +11% and in-store +7%. Consumer confidence up in Dec. amid improved outlook for inflation and employment. Diamond trading slow due to end-of-year break and market uncertainty. Cutters maintaining low polished production after 2022 inventory buildup, anticipating cautious post-holiday demand. China slow as Covid-19 outbreak stifles recovery; lockdowns expected to lift for Jan. 22 lunar festival. Belgium 3Q rough imports +8% to EUR 1.8B, volume -30% to 11.7M cts., National Bank of Belgium reports. Rapaport wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Dealer trading slow with wholesale market off between Christmas and New Year. Mood among jewelers positive as holiday sales exceed pre-pandemic levels despite year-on-year drop. Reports of strong revenue from lab-grown during festive period. Dealers’ expectations rising for January memo sales and post-holiday inventory replenishment. Finding right merchandise remains biggest challenge due to low supply of newly manufactured diamonds.
Market quiet. Bourses closed and most dealers on vacation for holidays this week and next. European retail sentiment mixed amid economic volatility. Luxury houses driving growth.
General uncertainty during holiday lull. Some have extended their Hanukkah break due to weak demand. Suppliers waiting for memo returns to assess inventory needs. Sellers agreeing to lower prices than usual in effort to offload less-popular goods. Dealers struggling to compete with US counterparts and are looking toward niche segments to gain an edge.
Business slow as US and European markets remain shut for holidays. China sluggish due to Covid-19 wave. Devaluation of rupee to INR 83/$1 raising concerns. Strong demand from local dealers for 0.30 to 0.99 ct., D-H, IF-VS2 diamonds with no black center. Rough slow even as restocking season approaches; manufacturers not buying for inventory. Polished production remains limited. Domestic jewelry sector weak amid high gold prices.
Little activity during vacation period and with Chinese demand slumping. Hong Kong jewelers running promotions to stimulate spending. Trade has deep concerns about mainland sales in short term but hopes to see recovery in coming months. Lunar New Year outlook unclear. China to open borders in January, offering potential boost to travel retail market.
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