News: NOTICE: RAPAPORT URGES TRADE TO REJECT WORLD DIAMOND COUNCIL “WDC G7 PROTOCOL,” WHICH WILL DESTROY SMALL BUSINESSES. ASKS TRADE TO RESIGN FROM WDC AND JOIN EFFORTS FOR ALTERNATIVE PROPOSAL WITH US GOVERNMENT. Further Russian sanctions creating concern. De Beers abandons Lightbox engagement rings, citing lack of long-term prospects and brings back “A Diamond Is Forever” in $20M natural-diamond campaign. Polished prices fall, with deep concerns for 4Q as US inflation rose to 3.7% in August. LVMH-owned Fred launches high jewelry with blue lab-grown and white natural diamonds. Low expectations for HK show. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year.
Fancies: Market slower than before. Prices falling, but less sharply than for rounds. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Goods with medium and short ratios weak. Prices of square Cushions falling amid low demand and high inventories. Marquise prices holding up following drop in supply. 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 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 hard to sell.
United States:
Wealthy consumers are spending; low and middle-income segments slow. Fancy shapes continue to outperform rounds. Melee demand stable. Dealer markets to enter quieter period over Jewish holidays.
Belgium:
Diamond district quiet. Buyer’s market as demand and prices fall. All eyes on Hong Kong show, but hopes of good sales minimal.
Israel:
Trading slow ahead of Rosh Hashanah (September 16-17). Dealers waiting until after the Jewish holidays to make deals. Indian sellers’ price cuts prompt Israeli companies to reduce their prices.
India:
Sentiment low as price pressure continues. Manufacturers keeping polished production below 50% of capacity and offering heavy discounts to clear inventory and improve liquidity. Very weak demand for 1 ct. and larger SIs, reflecting slowdown in US market. Muted expectations for coming months as synthetics gain popularity, but traders believe natural diamonds will recover in the long term.
Hong Kong:
Market preparing for important Jewellery & Gem World Hong Kong fair (Sept. 18-22). Price will be key factor at show, with exhibitors expecting buyers to request significant discounts. Hopes that Chinese economy will recover in time for the holidays.
Market Comment
News: NOTICE: RAPAPORT URGES TRADE TO REJECT WORLD DIAMOND COUNCIL “WDC G7 PROTOCOL,” WHICH WILL DESTROY SMALL BUSINESSES. ASKS TRADE TO RESIGN FROM WDC AND JOIN EFFORTS FOR ALTERNATIVE PROPOSAL WITH US GOVERNMENT. Further Russian sanctions creating concern. De Beers abandons Lightbox engagement rings, citing lack of long-term prospects and brings back “A Diamond Is Forever” in $20M natural-diamond campaign. Polished prices fall, with deep concerns for 4Q as US inflation rose to 3.7% in August. LVMH-owned Fred launches high jewelry with blue lab-grown and white natural diamonds. Low expectations for HK show. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year.
Fancies: Market slower than before. Prices falling, but less sharply than for rounds. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Goods with medium and short ratios weak. Prices of square Cushions falling amid low demand and high inventories. Marquise prices holding up following drop in supply. 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 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 hard to sell.
Wealthy consumers are spending; low and middle-income segments slow. Fancy shapes continue to outperform rounds. Melee demand stable. Dealer markets to enter quieter period over Jewish holidays.
Diamond district quiet. Buyer’s market as demand and prices fall. All eyes on Hong Kong show, but hopes of good sales minimal.
Trading slow ahead of Rosh Hashanah (September 16-17). Dealers waiting until after the Jewish holidays to make deals. Indian sellers’ price cuts prompt Israeli companies to reduce their prices.
Sentiment low as price pressure continues. Manufacturers keeping polished production below 50% of capacity and offering heavy discounts to clear inventory and improve liquidity. Very weak demand for 1 ct. and larger SIs, reflecting slowdown in US market. Muted expectations for coming months as synthetics gain popularity, but traders believe natural diamonds will recover in the long term.
Market preparing for important Jewellery & Gem World Hong Kong fair (Sept. 18-22). Price will be key factor at show, with exhibitors expecting buyers to request significant discounts. Hopes that Chinese economy will recover in time for the holidays.
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