US OKs Importing Some ‘Grandfathered’ Russian Diamonds

NewsBrief

August 26, 2024

US OKs Importing Some ‘Grandfathered’ Russian Diamonds

The US government will allow the import of diamond jewelry and certain loose diamonds from Russian sources, provided the purchases occurred before this year’s round of sanctions.

Asian Star Sales Hit by Weak Diamond Market

Revenue from segment down 27% year on year in first fiscal quarter.

Mountain Province Increases Diamond Resource Estimate

Company will recover approximately 36.3 million carats per year during remainder of lifespan, compared to previous 30.8 million.

Five Questions About US Diamond Demand

Retail market sending mixed messages ahead of holiday season.

News Digest

Chanel Buys Stake in Swiss Luxury Watchmaker MB&F

(Inside Retail)

Bold Gold Jewelry Is Back

(Financial Times)

Market Comment: August 22,2024

(Rapaport)

Events

Rapaport Quarterly Pawnshop Auction

September 16-24
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Rapaport Melee Auction

September 17-26
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Rapaport Single Stone Auction

September 17 – October 1
New York, Dubai & Israel

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The RapNet Diamond Index (RAPI™) is being revised due to elimination of diamond listings from China. These diamonds have been listed at low prices, with sellers demanding extra fees related to currency conversion. This week’s technical increase in RAPI indices does not reflect any sudden change in market conditions or prices.

RapNet Diamond Index (RAPI™)