Market Comment

United States:

Mood positive amid steady trading. Memo calls dominating, with good conversion rates. Demand strongest in 1 to 3 ct., F-I, VS-SI rounds and elongated fancy shapes, especially long radiants and ovals; larger stones getting more attention. Desirable polished in short supply. Dealers anticipate good Christmas season.

Belgium:

Business as usual for time of year. Sales happening quickly, with buyers purchasing for specific demand rather than inventory. Shortage of nice polished continues. Smaller goods slower, including melee.

Israel:

Market steady. Israelis trying to take advantage of Indian shutdown by selling overseas.

India:

Demand stable. Dossier goods under pressure as production rises and companies try to reduce inventories, especially in 0.30 to 0.50 ct. Traders focusing on clearing stock rather than building inventory. Jewelry business doing relatively well, though synthetics are gaining traction.

Hong Kong:

Business stabilizing, with positive feedback for certified stones above 1 ct. Wealthy buyers showing substantial interest in 3 to 5 ct., D-F, VVS1-VS2, triple Ex goods for investment; demand mainly from China. Elongated fancy shapes outperforming rounds for custom bridal orders, especially 1.50 to 3 ct. ovals and emeralds in D-G, VS1-SI1 ranges. Fancy pinks and vivid yellows selling rapidly due to scarcity; stones under 1 ct. not moving.