Market Comment

News:

Mood improving following US-India trade deal. US lowers reciprocal tariffs on India diamonds and jewelry to 25%, will abolish duty on diamonds and gemstones once agreement is final. De Beers sale and geopolitical tensions causing ongoing uncertainty in rough and polished. Anglo American reportedly expects to sell De Beers to public-private consortium, with Botswana likely to increase stake. NRF predicts $7B US jewelry sales for Valentine’s Day (Feb. 14). China slow ahead of Lunar New Year (Feb. 17). High gold price reducing jewelry demand. Singer Bad Bunny wears natural “Desert Diamonds” ear stud at Super Bowl. Wishing all our friends a happy and successful Year of the Horse.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds 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.