Diamond market segmented. Smaller goods stable; larger stones above 0.50 ct. weak amid price uncertainty. US demand cautious due to sluggish economic outlook, but dealers see steady orders at Centurion show in Arizona. NRF expects jewelry to top list of Valentine’s Day gifts but predicts lower sales than last year. China recovery boosting trader sentiment. Chinese luxury market improving after Covid-19 lockdowns led to 10%-15% decline in local jewelry segment for 2022, Bain reports. Titan Company FY3Q sales +16% to $1.4B, profit -10% to $123M. Rough trading slow; manufacturers keeping production low due to high polished inventory. Sotheby’s brings in $13M at Hong Kong sale.

Traceability has become a central issue in the diamond and jewelry industry, with the Russia-Ukraine conflict accelerating demand for source-verification programs.

In our quarterly webinar series, Rapaport Senior Analyst Avi Krawitz will examine the main forces affecting the diamond market in 2023 and outline the state of the industry at the start of the year.

The webinar will take place on Wednesday, February 15, at 10 a.m. Eastern Time and again on Thursday, February 16, at 3:30 p.m. India Time.

This deep-blue stone has been gracing sculptures, mosaics, paintings and personal adornments for millennia.