Market Comment

News:

Recovery continues in 0.30 to 0.69 ct. diamonds, especially 0.30 ct., VS items. US inventory inconsistent, with some categories in glut and others undersupplied. Tariffs preventing free flow of goods, as reexporting from US unviable for polished traders who have already paid import costs. American dealers pricing their goods higher than Indian companies’ US branches. Diamonds under 0.01 ct. (-2) hot. High-end jewelry in demand at Vicenzaoro. CIBJO recommends “synthetic” as descriptor for non-mined diamonds. Signet fiscal 2Q sales -0.5% YOY to $1.5B amid James Allen closure; shares spike as earnings beat forecast. The Rapaport Group wishes everyone a happy and healthy Jewish New Year. 

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds moving well 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. Reports of demand for Princesses after long period of weakness; prices remain low. Antique cuts and styles hot. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.