Market Comment

News:

Market trends unchanged: Fancies selling better than rounds, especially in 2 ct. and larger, with rounds moving in 2 ct. and larger. Rounds and fancies in 2.50 to 2.99 ct. are most sought-after oversizes. US trade seasonally slow, though retail demand is steady. De Beers July sight sees good demand for 2.50 ct. and larger rough; smaller sizes weak. India market sentiment low. India June polished exports -23% YOY to $779M, rough imports -4% to $961M. Tariff uncertainty continues after President Donald Trump’s ambiguous comments on India trade deal. Major US retailers delaying holiday orders. Richemont brands’ fiscal 1Q sales +7% YOY to $4.6B, reflecting strong high end.

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. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.