Market Comment

News:

Industry focusing on Las Vegas shows, waiting to assess market situation. US court rules Trump had no authority to impose tariffs. India trade slow amid sluggish overseas and domestic polished demand. Long fancies doing better than rounds. De Beers predicts doubling of Indian diamond demand over next five years. Botswana President Duma Boko reportedly calls for polishing all of country’s rough locally. Swiss watch exports +18% YOY to $3.1B in April amid pre-tariff spike in shipments to US. Colored stones dominate $48M Christie’s Hong Kong auction. Rapaport looks forward to welcoming industry members at its three JCK booths. Register for the Rapaport Breakfast at rapaport.com/jck25-breakfast.

Fancies:

Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in large sizes. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Ovals, Pears and Emeralds of 2.50 to 2.99 ct. trading at significant premiums. 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. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions are illiquid.