Market Comment

United States

Market stable. Sales slower due to seasonal retail lull. Smaller independent jewelers taking cautious approach to inventory. Supply constraints supporting demand for round, 1.25 to 2 ct., G-I, SI, 3X diamonds with no black center. Dealers starting to prepare for JCK Las Vegas show, with hopes the market will pick up.

Belgium

Activity slow due to religious holidays. Steady demand for 1 to 2 ct. diamonds. 0.30 and 0.50 ct. moving; 0.70 ct. weaker. Fancy shapes with good proportions selling well. G7 sanctions regime facing resistance from traders.

Israel

Market seasonally slow ahead of Passover holiday. Ongoing war with Hamas impacting sentiment and trading. Attendance at bourse lower than before war. Few dealers traveling overseas for business. G7 sanctions adding to uncertainty. Israel 1Q polished exports down 32% year on year at $566.2 million.

India

Overseas and domestic demand weak. Some orders of 1 to 1.99 ct., G-H, VS-SI, 3X diamonds. Stones with brown, green or milky tints (BGM) and those with black centers are hard to sell. Fancies slow; only stones with excellent proportions moving. Ongoing concerns about impact of G7 sanctions.

Hong Kong

Trade seasonally slow. Sluggish demand from stores in mainland China. Jewelry manufacturers operating below capacity and focusing on low-cost goods. Best categories are 0.30 to 0.50 ct. and 1 to 1.50 ct., D-J, VVS-SI1, 3X diamonds, but transaction levels low.