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RAPAPORT ® TRADEWIRE ®
December 23, 2022
Rapaport Market Comment - December 22, 2022

Diamond market quiet as trading tapers off for the holidays. Major dealers satisfied with season. Jewelers facing competition from general retailers that are discounting to offload excess inventory as consumers shift to lower price points. Economic caution fueling uncertainty about 2023. Covid-19 outbreak in China shaking confidence ahead of Lunar New Year (Jan. 22). Some concerned about post-holiday restocking; few fresh goods available since cutters lowered polished production. Indian suppliers keeping prices firm for 0.30 ct., D-F, IF-VVS certified goods. De Beers Dec. sight +22% to $410M, estimated 2022 rough sales +20% to $5.8B. Rapaport wishes everyone happy holidays.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.51% 0.68% -7.52%
0.50 ct -0.21% -0.77% -10.17%
1.00 ct -0.30% -1.55% -9.35%
3.00 ct -0.37% -1.49% -1.82%
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Market Reports
<p><strong>United States: </strong>Mid-size to large jewelers carefully managing inventory, hedging against potential downturn in 2023…</p>
United States: Mid-size to large jewelers carefully managing inventory, hedging against potential downturn in 2023…
<p><strong>Belgium: </strong>Very little trading; bourses closed for holidays…</p>
Belgium: Very little trading; bourses closed for holidays…
<p><strong>Israel: </strong>Suppliers have finished holiday orders and are waiting to assess sell-through rate on memo items…</p>
Israel: Suppliers have finished holiday orders and are waiting to assess sell-through rate on memo items…
<p><strong>India: </strong>High gold prices creating some concerns for domestic consumers…</p>
India: High gold prices creating some concerns for domestic consumers…
<p><strong>Hong Kong: </strong>Local Hong Kong demand improving as economy opens up for festival period…</p>
Hong Kong: Local Hong Kong demand improving as economy opens up for festival period…
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By Joshua Freedman

Empty stores and a challenging economy indicate a slow New Year season ahead. But things should be better by March, dealers predict.

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Find out if you’re an expert by taking Rapaport Magazine’s quiz of the year.

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