Market Comment

News: Market slow. India trade in crisis as price declines continue. 1 ct. RAPI -2.7% in July, 0.50 ct. -4.8%. Summer vacation in Belgium and Israel. American dealers have better salable inventory than Indian manufacturers, as they buy more selectively. US jewelry sector shrank 2.4% to 23,424 companies in 2Q, JBT reports. Concerns about synthetics remain. Mainland China sluggish. Hong Kong improving, with June sales of jewelry, watches, clocks and valuable gifts +64% to $713M. Optimism for Indian jewelry demand as Mumbai IIJS show opens. RJC updates terms to allow member expulsions. Armed robbers reportedly steal about $13M in jewelry from Piaget Paris store.

Fancies: Fancy-shape market slower than before but better than rounds. Prices dropping but not as fast as rounds. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Goods with medium and short ratios weak. Marquises improving. 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.