US wholesale seasonally quiet. Indian market weak amid drop in overseas demand and rising inventories. Rough prices falling on secondary market. Trade awaiting De Beers and Alrosa decisions on pricing and flexibility. Kimberley Process reports 2023 global rough production -20% to $12.7B, volume -8% to 111.5M cts., average price -14% to $114/ct. Russia production +1% to $3.6B; overtakes Botswana as top producer by value. US Jan.-May. 0.50 ct.+ net polished imports -9% YOY to $2.3B. Titan fiscal 1Q jewelry sales +9% YOY, but high gold prices limited demand. IGI appoints Tiffany Stevens to head North America business. AWDC reelects Isidore Mörsel board president.

GIA’s Tom Moses and Dr. Wuyi Wang talk about the evolution, nomenclature and detection of synthetics.

Weak demand and a supply glut have created a perfect storm for manufacturers. But the only true solution is at the consumer level.

In the third Instagram Live of a five-part series, Wim Vertriest explores how to identify rough stones, as well as broader origin determination.