Market Comment

News: Diamond market slow with trading centers on end-of-year break. Mastercard reports US Nov.-Dec. holiday jewelry sales -2%, general retail +3.1%, e-commerce +6.3% and in-store +2.2%. Restaurant spending +7.8%, indicating shift from products to experiences. Manufacturers focusing on Chinese New Year (Feb. 10) and Valentine’s Day (Feb. 14) but keeping production low to avoid oversupply. G7 members update sanctions on Russian diamonds: US removes “substantial transformation” loophole; Antwerp Diamond Office to vet all rough imports into European Union. Rapaport wishes everyone a happy, healthy, ‎prosperous and peaceful New Year.‎

Fancies: Fancy market slowing. Weak demand for Hearts and Cushions. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Elongated fancy shapes moving well. Goods with medium and short ratios harder to sell. Marquise prices holding up following drop in availability. 0.30 ct. seeing good sales. Orders down for 0.70 to 1.20 ct. diamonds. Well-cut stones in short supply. 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.