News: Trading slow. Weak demand for 0.25 ct. and larger polished is leading to price declines. Focus on memo. Jewelers limiting inventory and buying for specific orders. US seasonally quiet ahead of summer vacation. Mixed outlook as American job market improves, but Federal Reserve warns it could raise interest rates at July and September meetings. Muted activity at small Hong Kong show; few overseas buyers present. US sanctions four gold and diamond companies and one individual that have supported Russia’s Wagner military group. Rough market under pressure as deadline approaches for De Beers-Botswana deal. Birks FY sales -10% to $124M; loss of $5.7M vs. profit of $1M a year earlier.
Fancies: Fancy-shape market slower than before but better than rounds. Longer Ovals, Pears, Radiants and Cushions fetching higher prices than shorter stones. Goods with medium and short ratios weak. Demand for Cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
United States:
Weak demand in most segments. Melee supporting market; 0.30 ct. and larger slow. Retailers requesting memo instead of buying for stock amid uncertain trading conditions. Consumer confidence index rose 7% in June as outlook for business and employment improved, The Conference Board reports.
Belgium:
Sentiment down as demand and prices fall. Concerns about impact of lab-grown. Reports of meager trading at June Hong Kong show. Rough sluggish due to drop in polished orders; sales of 3-grainers and smaller supporting market.
Israel:
Little activity in bourse. Lull in global demand impacting mood. Falling prices making sales difficult. Reduced production has created a shortage of quality goods.
India:
Market quiet, with buyers only purchasing for specific orders. Fancy shapes outperforming rounds. Businesses struggling to manage costs. Some optimism for July recovery. Production still low as manufacturers contend with thin profit margins. Lab-grown seeing steady movement in 1 ct. and larger.
Hong Kong:
Trading at Jewellery & Gem Asia Hong Kong show slow but in line with expectations. Few overseas buyers in attendance. Weak demand likely to continue until September Jewellery & Gem World fair. State of local economy impacting retail sales. Mainland sluggish but seeing some movement in 0.30 to 1 ct., D-J, VS-SI (3X, none) diamonds. Depreciation of Chinese yuan (2.4% drop in past month to CNY 7.25/$1) affecting cross-border deals.
Market Comment
News: Trading slow. Weak demand for 0.25 ct. and larger polished is leading to price declines. Focus on memo. Jewelers limiting inventory and buying for specific orders. US seasonally quiet ahead of summer vacation. Mixed outlook as American job market improves, but Federal Reserve warns it could raise interest rates at July and September meetings. Muted activity at small Hong Kong show; few overseas buyers present. US sanctions four gold and diamond companies and one individual that have supported Russia’s Wagner military group. Rough market under pressure as deadline approaches for De Beers-Botswana deal. Birks FY sales -10% to $124M; loss of $5.7M vs. profit of $1M a year earlier.
Fancies: Fancy-shape market slower than before but better than rounds. Longer Ovals, Pears, Radiants and Cushions fetching higher prices than shorter stones. Goods with medium and short ratios weak. Demand for Cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Weak demand in most segments. Melee supporting market; 0.30 ct. and larger slow. Retailers requesting memo instead of buying for stock amid uncertain trading conditions. Consumer confidence index rose 7% in June as outlook for business and employment improved, The Conference Board reports.
Sentiment down as demand and prices fall. Concerns about impact of lab-grown. Reports of meager trading at June Hong Kong show. Rough sluggish due to drop in polished orders; sales of 3-grainers and smaller supporting market.
Little activity in bourse. Lull in global demand impacting mood. Falling prices making sales difficult. Reduced production has created a shortage of quality goods.
Market quiet, with buyers only purchasing for specific orders. Fancy shapes outperforming rounds. Businesses struggling to manage costs. Some optimism for July recovery. Production still low as manufacturers contend with thin profit margins. Lab-grown seeing steady movement in 1 ct. and larger.
Trading at Jewellery & Gem Asia Hong Kong show slow but in line with expectations. Few overseas buyers in attendance. Weak demand likely to continue until September Jewellery & Gem World fair. State of local economy impacting retail sales. Mainland sluggish but seeing some movement in 0.30 to 1 ct., D-J, VS-SI (3X, none) diamonds. Depreciation of Chinese yuan (2.4% drop in past month to CNY 7.25/$1) affecting cross-border deals.
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