Seasonal lull in US retail sales, with shortages supporting prices of rounds. Good demand for 1 and 2 ct., F-I, VS2-SI2, RapSpec A3+ goods; VVS weak. US dealers resisting India’s price increases. Rapaport US Diamond Protocol gaining support ahead of Mar. 1 implementation of G7 sanctions. Stable pricing expected at next week’s De Beers sight. De Beers 2023 rough sales -40% to $3.6B, with underlying loss of $314M, average price -25% to $147/ct. De Beers testing lower prices for Lightbox synthetics. Petra fiscal 1H sales -10% to $188M, loss of $11M. Lucara 2023 revenue -17% to $177M, loss of $20M; miner signs new HB deal. Chinese market preparing for Hong Kong show (Feb. 29 to Mar. 4). GIA opens Dubai lab.

Wholesalers are reporting firm prices due to polished shortages, despite sluggishness on the demand side.

The threat of lab-grown and the importance of screening will be the focus of a LinkedIn Live with International Gemological Institute (IGI) execs Avi Levy and Steve Rees.

Jewelry expert Sharon Novak talks about the King of Diamonds’ groundbreaking techniques and bold approach to stone-cutting.