Market Comment

News:

Steady US demand for 2 ct. and larger diamonds, especially in long fancies. Antique cuts hot. US mood positive ahead of Vegas shows. GemGenève reflects strong demand for fancy-color diamonds and gemstones. India on alert as Prime Minister Modi tells public to avoid gold purchases, raises gold import duty. NDC rejects Pandora environmental claims about synthetics. Triangular-cut, 5.50 ct., fancy-vivid-blue-green, SI1 diamond fetches $17.4M ($3.2M/ct.) at Christie’s Geneva. Rapaport CEO Dan Mano to unveil new products at JCK breakfast with speech by Martin Rapaport; register here. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON MAY 22 DUE TO THE JEWISH HOLIDAY OF SHAVUOT.

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. Marquise most expensive fancy shape. 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. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.