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RAPAPORT ® TRADEWIRE ®
January 9, 2025
Rapaport Market Comment - January 9, 2025

Market opening gradually after vacation. Many retailers still on vacation. Wholesalers expected to continue selective buying in 1Q. India trade slow amid sluggish overseas orders. D-F, IF-VVS diamonds improving. Melee weakening. IIJS Signature show in Mumbai positive for gold and jewelry, mixed for loose diamonds. Titan fiscal 3Q jewelry sales +26% YOY amid strong Diwali demand, with studded jewelry +21%. De Beers and India’s GJEPC partner to promote natural diamonds. Chinese retailers focusing on selling inventory over Lunar New Year festive season. Both women and men flaunt natural diamonds at Golden Globes.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.06% 1.29% -26.47%
0.50 ct -0.05% 0.93% -16.08%
1.00 ct -0.83% -1.20% -23.99%
3.00 ct -0.16% -0.14% -17.34%
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Market Reports
United States: Steady orders for oversizes (1.70 ct., 2.50 ct.) as consumers seek bigger looks for lower prices…
United States: Steady orders for oversizes (1.70 ct., 2.50 ct.) as consumers seek bigger looks for lower prices…
Belgium: Sentiment low amid deep trading discounts…
Belgium: Sentiment low amid deep trading discounts…
Israel: Market quiet, as overseas buyers are slow to return from vacation…
Israel: Market quiet, as overseas buyers are slow to return from vacation…
India: Polished production remains low amid uncertainty about market direction…
India: Polished production remains low amid uncertainty about market direction…
Hong Kong: Retail picking up ahead of Lunar New Year, but focus is on clearing inventories…
Hong Kong: Retail picking up ahead of Lunar New Year, but focus is on clearing inventories…
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Podcast: How Anita Diamonds Beats the Market

The polished dealer’s CEO, Chirag Shah, discusses large stones, credit, and buying from HB Antwerp.

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Indian Jewelers Upbeat at IIJS Signature Ahead of Wedding Season
By David Brough

Demand remained high at the show, even amid rising gold prices and geopolitical uncertainty.

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1-carat RAPI down 23% in 2024.
Diamond Market Stable but Cautious
1-carat RAPI down 23% in 2024.
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Revenue up 9% year on year to $241.4 billion, according to Adobe.
Competitive Discounts Give Rise to Record US Online Holiday Sales
Revenue up 9% year on year to $241.4 billion, according to Adobe.
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Purchases were tempered by $122 billion in returns.
US Online Holiday Sales Surge to Record $282B – Salesforce
Purchases were tempered by $122 billion in returns.
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Miner also believes the threat of lab-grown will diminish as prices continue to drop.
Alrosa Predicts Rebalancing of Supply and Demand in Diamond Market
Miner also believes the threat of lab-grown will diminish as prices continue to drop.
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Revenue from jewelry up 26% year on year in third fiscal quarter.
Indian Festive Season Buoys Titan Sales
Revenue from jewelry up 26% year on year in third fiscal quarter.
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Statement necklaces dominate the night, with pieces by Cartier, Bulgari, and Tiffany & Co. standing out.
Diamond Jewelry Takes Center Stage at 2025 Golden Globes
Statement necklaces dominate the night, with pieces by Cartier, Bulgari, and Tiffany & Co. standing out.
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Gemfields has appealed the decision, citing negative impact on sector sustainability.
Zambia Reinstates 15% Export Duty on Emeralds Without Warning
Gemfields has appealed the decision, citing negative impact on sector sustainability.
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Event to take place January 29 to 31, with guest speakers including DMCC’s Ahmed Bin Sulayem and GJEPC’s Vipul Shah.
Qatar to Debut Diamond and Gem Conference
Event to take place January 29 to 31, with guest speakers including DMCC’s Ahmed Bin Sulayem and GJEPC’s Vipul Shah.
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Mercedes Abramo has worked for the company since 2008, starting as director of its New York flagship.
Longtime Head of Cartier North America Steps Down
Mercedes Abramo has worked for the company since 2008, starting as director of its New York flagship.
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