News: Diamond trade sluggish amid growing market uncertainty. Disposable income squeezed by high inflation and rising interest rates. China’s economy slowing due to Covid-19 lockdowns, crackdown on private sector, real-estate crisis and social protests. Manufacturing liquidity tight; some reducing prices to boost turnover. Polished inventory rising despite decline in rough supply. De Beers raises 2022 production plan to 32M-34M cts. after 2Q output -4% to 7.9M cts., sales volume +29% to 9.4M cts., price index +28%. India June polished exports +2% to $2B, rough imports +4% to $1.7B. Sotheby’s sells $18M, with emerald-cut, 11.02 ct., D, IF Graff ring going for $983,068 ($89,207/ct.).

The synthetic-diamond industry has seen a boom in interest over the past two years, with many in the mainstream jewelry trade embracing the product. Rapaport’s Avi Krawitz hosts a lively discussion with four key market players.

With Covid-19 no longer a plausible reason, the industry is starting to suspect that a thorny issue is preventing the miner and the government from finalizing a new sales agreement.

Emma de Sybel, vintage dealer and founder of Baroque Rocks in London, discusses the fabulous creations of the 1960s and 1970s.