Market Comment

News:

Market recovery broadening. Aug. 1 ct. RAPI +0.5%, first rise in 15 months. Dossiers continuing rebound, with 0.30 ct. RAPI +2%, 0.50 ct. +2.5%, 3 ct. -0.4%. Rounds outperforming fancies. Certified stones in India seeing increased premiums over non-certified goods. Trading hubs returning from summer break. India retail demand steady; Middle East also active. Rough supply tight, limiting polished output. Some large manufacturers expanding market share. Hong Kong slow ahead of Sep. show. Thieves steal Van Cleef & Arpels necklace from Vienna museum. US postpones deadline for grandfathered Russian diamonds to Sep. 2027. Chow Sang Sang 1H revenue +17% YOY to $1.6B on strong gold demand.

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.