Market Comment

News:

Industry preparing for Las Vegas shows. US retail positive. Dealers expect interest in 2 ct. and larger rounds and long fancies at Luxury and JCK, especially antique shapes and warm colors. Prices improving in round, 0.30 to 0.89 ct., D-H, IF-VS2 goods. 5 ct. and larger collection goods robust. Rough market quiet, with dealers expecting low sales and stable prices at May 25-29 De Beers sight. Russia reportedly considering duties on diamond exports to ​support domestic manufacturing. India’s Titan reports growth in studded jewelry, with boost from diamond promotion festival. Burgundy working on sale of troubled Ekati mine. Register for the Rapaport JCK breakfast here.

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.