Indian export market slow. Good demand for round, 0.30 ct., D-G, VS2-SI1 diamonds, with some price increases. US jewelers focusing on Valentine’s Day; NRF predicts record $6.4B jewelry spending. Luxury retailers report strong 2023 jewelry and watch sales: Swatch Group (Harry Winston, Omega) +6% to $8.7B, LVMH (Tiffany, Bulgari) +3% to $11.8B. De Beers Jan. sales -19% YOY to $370M but higher than Dec.’s $137M as miner reduces rough prices and India resumes imports. Uncertainty over implementation of G7 Russia sanctions. Kiran Gems reopens Mumbai office following move to Surat bourse. Recording of Martin Rapaport webinar available at rapaport.com/webinar.

The G7’s apparent determination to enforce traceability mechanisms has left industry bodies with many questions and concerns.

Suppliers and jewelers are shutting early for the New Year holiday, and Indian companies are bringing their workers back from Hong Kong. Economic woes and social changes have pushed the mainland into a deep demand crisis.

Another chance to watch last week’s broadcast, which addressed the challenges facing the diamond industry as the year begins.

Designer and painter Reena Ahluwalia discusses the most extraordinary jewels and diamonds from the country where these precious stones were originally discovered.

Members of the editorial team pick their favorite pieces from the internet.

In this second half of a two-part series, we learn more about the American Gem Trade Association’s work and its profound impact on the sector.