Market Comment

News:

Hong Kong show meets low expectations, with Chinese buyers not purchasing much. Large and high-value stones in demand. US prices decline for round, 0.50 ct., 0.70 ct. and 1 ct., D-J, SI diamonds. Prices of India-based 2 ct. rounds and fancies increase. US delegation visits India for tariff negotiations. India Aug. gross polished exports -6% YOY to $972M, rough imports +14% to $769M. S&P lowers Botswana credit rating amid decline in diamond revenues. US dealers scramble for old-mine cushion cuts following Taylor Swift engagement. CIBJO proposes removing “laboratory-grown” as synonym for “synthetic” in Blue Book. The Rapaport Group wishes everyone a happy, healthy and peaceful Jewish New Year.

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. Marquises most expensive fancy shapes. 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. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.