Market Comment

News:

Market awaiting US tariff decision as July 9 deadline approaches. Retailers and dealers delaying purchases amid uncertainty. US consumer demand steady. New York wholesalers preparing for seasonal slowdown in July. Indian trade quiet. Prices for round, 0.50 ct. diamonds declining. 1 ct. stable, though some categories softening. Fancies steady, with 2 ct. and larger stones hot in long shapes. Rough market positive. Prices up at Okavango June auction. Israel resumes shipments following Iran ceasefire. Heated battle occurring over marketing strategies as natural industry goes negative on synthetics. HRD stops grading loose synthetic diamonds. GIA names Pritesh Patel president and CEO.

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 are illiquid.