News: Hong Kong show opens with steady diamond sales to smaller Asian markets and weak Chinese demand. Overseas dealers seeking bargains at fair. Some luxury brands making purchases. De Beers to maintain flexibility at Sep. 23 sight, leading market to expect stable rough prices. Alrosa tells customers it will keep rough prices steady and avoid flooding the market, encourages trade to avoid devaluing polished. Lucara recovers 1,094 ct. rough, second huge stone in a month. US Federal Reserve lowers interest rates 0.5 percentage points following drops in inflation, raising hopes for consumer spending. US general retail sales +2.1% YOY to $711B in Aug. Jewelers Mutual warns of spike in burglaries.
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:
Market stable, with decent retail sales but limited restocking by jewelers. Moderate improvement in round, 2 ct. and larger, D-H, good-quality VS-SI, 3X diamonds and in perfectly made fancies of same sizes and qualities. Slow market for 1 and 1.50 ct. rounds and fancies. Jewelers preparing for holiday season but taking goods on memo rather than investing in inventory.
Belgium:
Sentiment weak. Bourses quiet. Many dealers are in Hong Kong, though fewer than in most years. Rough trading slow ahead of next week’s De Beers sight. Rough buyers relieved that Alrosa and De Beers will continue flexibility and not reduce prices.
Israel:
Sentiment subdued. Traders anticipating slow sales at Hong Kong show, with focus on meetings and networking rather than deals.
India:
Sluggish activity amid weak overseas demand. Domestic market supporting polished trade. Steady orders for stars and melee up to 0.14 ct. Many companies in Hong Kong for show, arriving with little optimism.
Hong Kong:
Trade focusing on Jewellery & Gem World (JGW) show, which has matched low expectations. Loose-stone section opened on Monday, finished-jewelry section on Wednesday. Steady sales to smaller Asian markets and some European buyers. Dealers have come in search of bargains. Exhibitors holding client meetings but seeing few sales. Not many Chinese buyers in attendance.
Market Comment
News: Hong Kong show opens with steady diamond sales to smaller Asian markets and weak Chinese demand. Overseas dealers seeking bargains at fair. Some luxury brands making purchases. De Beers to maintain flexibility at Sep. 23 sight, leading market to expect stable rough prices. Alrosa tells customers it will keep rough prices steady and avoid flooding the market, encourages trade to avoid devaluing polished. Lucara recovers 1,094 ct. rough, second huge stone in a month. US Federal Reserve lowers interest rates 0.5 percentage points following drops in inflation, raising hopes for consumer spending. US general retail sales +2.1% YOY to $711B in Aug. Jewelers Mutual warns of spike in burglaries.
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.
Market stable, with decent retail sales but limited restocking by jewelers. Moderate improvement in round, 2 ct. and larger, D-H, good-quality VS-SI, 3X diamonds and in perfectly made fancies of same sizes and qualities. Slow market for 1 and 1.50 ct. rounds and fancies. Jewelers preparing for holiday season but taking goods on memo rather than investing in inventory.
Sentiment weak. Bourses quiet. Many dealers are in Hong Kong, though fewer than in most years. Rough trading slow ahead of next week’s De Beers sight. Rough buyers relieved that Alrosa and De Beers will continue flexibility and not reduce prices.
Sentiment subdued. Traders anticipating slow sales at Hong Kong show, with focus on meetings and networking rather than deals.
Sluggish activity amid weak overseas demand. Domestic market supporting polished trade. Steady orders for stars and melee up to 0.14 ct. Many companies in Hong Kong for show, arriving with little optimism.
Trade focusing on Jewellery & Gem World (JGW) show, which has matched low expectations. Loose-stone section opened on Monday, finished-jewelry section on Wednesday. Steady sales to smaller Asian markets and some European buyers. Dealers have come in search of bargains. Exhibitors holding client meetings but seeing few sales. Not many Chinese buyers in attendance.
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