Market Comment

News: Diamond market seasonally slow, with many US and European dealers still on vacation. Trade waiting for retailers’ holiday results. Mastercard SpendingPulse reports US holiday jewelry spending +4% YOY. Industry hoping for better 2025 after 1 ct. RAPI -23% in 2024. Dec. RAPI mixed, with 0.30 ct. +1%, 0.50 ct. +0.8%, 1 ct. -0.5%, 3 ct. +0.2%. Alrosa predicts rebalancing of supply and demand for rough and polished in coming months. Angola 2024 rough production approximately +20% at 12M cts. Two fatally shot in attempt to invade Gemfields worker village in Mozambique. Please see special notice on Price List for additional market information.

Fancies: Fancy-shape prices stable. Prices firm for 3 ct. and larger, as nice items are hard to find. Good US demand and price increases for elongated Ovals in D-I, VS-SI categories with good shape and quality. Ovals 5% to 10% more expensive than Pears in US market. Elongated Emeralds, Radiants and Pears in demand, with stable prices. 2.50 to 2.99 ct. trading at significant premiums in those shapes. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.