Market Comment

United States

Gradual improvement in polished trading after slow January. Dealers struggling to buy in international markets due to low availability of fresh goods. Fancies doing better than rounds; elongated ovals are strongest shape. Round, 1 ct., G-J, VS-SI, 3X diamonds weak despite relative popularity in engagement-ring segment. Melee stable.  

Belgium

Market sluggish but better than a month ago. Dealers pinning hopes on Hong Kong show after China’s January border-opening stimulated trading in the region. Small goods steady, with solid sales of 0.50 to 0.90 ct., G-J, VS-SI dossiers. 1 ct. sluggish. Uncertainty in rough sector following De Beers price changes; some concerned that small polished not seeing same upward movement as corresponding rough.

Israel

Dealers cautious amid slow demand and declining prices. Some savvy companies reduced inventory in recent months, waiting for US market improvement before buying again. US demand seasonally quiet. High-end fancy-shape suppliers doing well. Mixed expectations for Hong Kong fair. Some anticipate more activity from Chinese buyers as year goes on.

India

Trade stable as manufacturers monitor recovery of US and Asia. Chinese dealers and retailers gradually increasing their purchases, supporting demand for 0.20 to 0.50 ct., D-K, IF-I1, 3X (no fluorescence) diamonds. Profit margins thin amid high rough prices on secondary market. Polished production below capacity; factories keeping workers busy with lab-grown or low-cost natural rough. Indian wedding season driving domestic jewelry sales. Industry looking to Hong Kong show as indicator of market direction.

Hong Kong

Sentiment improving across the region. Local dealers upbeat for March show, hoping mainland buyers will make purchases after months of slow movement. Steady appetite for 0.30 to 2 ct. diamonds as suppliers prepare for the fair. Retail seeing growth but still below pre-pandemic levels. Chinese consumer spending sluggish; gold selling better than diamonds.