Market Comment

News:

US consumer demand steady as retailers make final festive push. NRF predicts record 158.9M shoppers on Super Saturday (Dec. 20). US suppliers fulfilling last-minute orders and satisfied with sales, but weakness in 0.30 to 0.50 ct. prompting them to reduce prices of local goods. 2 ct. stable. Prices of 3 to 4 ct. fancies firm amid strong demand, with rounds in that size seeing stable prices. 7 ct. and larger doing well. Rough slow following De Beers sight; market predicts possible Jan. price cut. India Nov. polished exports +38% YOY to $920M, rough imports +59% YOY to $926M. Mexico approves tariffs on Indian goods; diamonds likely spared for now. Rapaport wishes everyone happy holidays.

Fancies:

Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Indian prices for 0.30 to 0.79 ct. Ovals and Pears softening, except for ideal long models. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.