Market Comment

Recovery continues in 0.30 to 0.69 ct. diamonds, especially 0.30 ct., VS items. US inventory inconsistent, with some categories in glut and others undersupplied. Tariffs preventing free flow of goods, as reexporting from US unviable for polished traders who have already paid import costs. American dealers pricing their goods higher than Indian companies’ US branches. Diamonds under 0.01 ct. (-2) hot. High-end jewelry in demand at Vicenzaoro. CIBJO recommends “synthetic” as descriptor for non-mined diamonds. Signet fiscal 2Q sales -0.5% YOY to $1.5B amid James Allen closure; shares spike as earnings beat forecast. The Rapaport Group wishes everyone a happy and healthy Jewish New Year.