News: TRADE ALERT: US imports of diamonds and diamond jewelry will now require a new self-certification statement as US exempts “grandfathered” diamonds that were outside Russia before Mar. 1, 2024. Low expectations for Sep. Hong Kong show, with reports that Chinese consumers are reselling diamonds. US dealers cautious, buying only on demand. Retail sales seasonally slow but stable. US consumer confidence +1.4% in Aug., The Conference Board reports. US sanctions Russian manufacturer Kristall. IGI seeks to raise additional $477M on India stock exchanges. De Beers and Tanishq partner to promote diamonds in India.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes still preferred. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
United States:
Consumer sales seasonally slow. Retailers planning for holidays and optimistic for the season. Synthetics impacting sales, even as some jewelers move back to natural diamonds. Dealers purchasing mainly on demand, as they lack confidence to take on inventory. Steady orders for melee.
Belgium:
Market uncertain, with cautious optimism for holidays. Dealers gradually returning from summer break. Traders hope US “grandfather” clause will ease concerns about Russia sanctions.
Israel:
Minimal activity amid seasonal lull and weak overseas demand. Many dealers still on vacation and will return next week.
India:
Business slow. Many factories closed for longer than usual over national and religious holidays. Polished production remains low, as cutters seek to reduce inventories amid weak demand. Limited orders from US and China. Little hope of Chinese recovery ahead of September Hong Kong show.
Hong Kong:
Slow Chinese economy impacting sales. Consumers losing confidence in natural diamonds. Hong Kong seeing more store closures. Muted expectations for Jewellery & Gem World Hong Kong show (September 16 to 22). Mainland manufacturers receiving orders for synthetic-diamond jewelry as shoppers seek low-budget items.
Market Comment
News: TRADE ALERT: US imports of diamonds and diamond jewelry will now require a new self-certification statement as US exempts “grandfathered” diamonds that were outside Russia before Mar. 1, 2024. Low expectations for Sep. Hong Kong show, with reports that Chinese consumers are reselling diamonds. US dealers cautious, buying only on demand. Retail sales seasonally slow but stable. US consumer confidence +1.4% in Aug., The Conference Board reports. US sanctions Russian manufacturer Kristall. IGI seeks to raise additional $477M on India stock exchanges. De Beers and Tanishq partner to promote diamonds in India.
Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes still preferred. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Consumer sales seasonally slow. Retailers planning for holidays and optimistic for the season. Synthetics impacting sales, even as some jewelers move back to natural diamonds. Dealers purchasing mainly on demand, as they lack confidence to take on inventory. Steady orders for melee.
Market uncertain, with cautious optimism for holidays. Dealers gradually returning from summer break. Traders hope US “grandfather” clause will ease concerns about Russia sanctions.
Minimal activity amid seasonal lull and weak overseas demand. Many dealers still on vacation and will return next week.
Business slow. Many factories closed for longer than usual over national and religious holidays. Polished production remains low, as cutters seek to reduce inventories amid weak demand. Limited orders from US and China. Little hope of Chinese recovery ahead of September Hong Kong show.
Slow Chinese economy impacting sales. Consumers losing confidence in natural diamonds. Hong Kong seeing more store closures. Muted expectations for Jewellery & Gem World Hong Kong show (September 16 to 22). Mainland manufacturers receiving orders for synthetic-diamond jewelry as shoppers seek low-budget items.
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