Market slow. Polished prices weak, with biggest declines in round, 0.30-0.40 ct., D-H, IF-VS1 goods. US, Israel and Belgium quiet during Shavuot holiday. De Beers sight prices steady, with some refusals. Secondary rough market sluggish. Fed holds interest rates steady and signals one rate cut this year after inflation cooled in May. Signet fiscal 1Q sales -9% YOY to $1.5B, profit -47% to $52M. Sotheby’s NY Magnificent Jewels grosses $30M (90% sold by lot), with Van Cleef & Arpels diamond necklace going for $3.6M. Christie’s NY Magnificent Jewels grosses $44M (90% sold by lot), including ring with round, 10.20 ct., fancy-intense-pink, IF diamond for $13.3M. Country comments will resume next week.
|
