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RAPAPORT ® TRADEWIRE ®
June 20, 2024
Rapaport Market Comment - June 20, 2024

Polished prices falling and inventories rising. Fancies weak. Indian market slow due to weak US and Chinese demand and too much supply. US dealers seeing steady market amid stable sales and healthy inventory. Rough market sluggish, with surplus of goods. Industry delegation petitions Washington, DC, lawmakers over Russia sanctions plan. Signet shifts focus of synthetics to fashion jewelry. Low expectations for June Hong Kong show amid weak mainland Chinese demand. Chow Tai Fook FY sales +15% to $13.9B as Hong Kong recovers. Gemfields names Bruce Cleaver chair. Sara Yood to succeed Tiffany Stevens as CEO of JVC.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -1.52% -5.06% -21.00%
0.50 ct -1.21% -3.33% -18.98%
1.00 ct -0.88% -4.60% -22.09%
3.00 ct -0.60% -2.63% -14.66%
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Market Reports
United States: Dealers cautiously optimistic about post-Vegas trading as shows boosted market…
United States: Dealers cautiously optimistic about post-Vegas trading as shows boosted market…
Belgium: Customers buying on demand and not for inventory…
Belgium: Customers buying on demand and not for inventory…
Israel: May polished exports down 30% year on year to $507.7 million…
Israel: May polished exports down 30% year on year to $507.7 million…
India: Domestic jewelry market sluggish…
India: Domestic jewelry market sluggish…
Hong Kong: Some demand for 0.30 to 1 ct. diamonds, but 2 ct. and larger sluggish..
Hong Kong: Some demand for 0.30 to 1 ct. diamonds, but 2 ct. and larger sluggish..
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Do Consumers Care About Diamond Origin?
By Joshua Freedman

Panelists at a RapNet event during the JCK Las Vegas show highlighted the provenance challenges facing the industry and how they planned to solve them.

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GEMTalks Shines the Spotlight on Color Origin in Diamonds

GIA’s Tom Moses will talk about the institute’s research on what causes different hues.

Register Here
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Incident at Debswana’s Jwaneng site involved crane and drill rig.
Worker Killed at De Beers Mine in Botswana
Incident at Debswana’s Jwaneng site involved crane and drill rig.
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Revenue for subcategory rose 14% year on year in first fiscal quarter.
Signet Views Fashion Jewelry as Focus for Synthetics
Revenue for subcategory rose 14% year on year in first fiscal quarter.
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Total up 0.1% from previous month, according to US Census Bureau data.
Strong Job Market Buoys May US Retail Sales
Total up 0.1% from previous month, according to US Census Bureau data.
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Sales increase 15% for full fiscal year.
Festive Demand Boosts Chow Tai Fook Revenue
Sales increase 15% for full fiscal year.
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Single import channel in Belgium would cause harm, trade leaders argue.
US Jewelry Industry Meets with Washington Officials over Sanctions
Single import channel in Belgium would cause harm, trade leaders argue.
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Tiffany Stevens will depart organization after seven years as head.
Sara Yood to Become New CEO of JVC
Tiffany Stevens will depart organization after seven years as head.
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Mouawad toi et moi jewel realizes $3.7 million at London auction.
Pink and Blue Diamond Ring Soars Past Estimate at Bonhams
Mouawad toi et moi jewel realizes $3.7 million at London auction.
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The top seller was a cushion-modified brilliant-cut yellow diamond ring, which brought in $327,600.
 
Christie’s Online Jewelry Sale Tops $5M
The top seller was a cushion-modified brilliant-cut yellow diamond ring, which brought in $327,600.  
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Miner achieves $68.7 million in revenue at its latest auction.
Gemfields Sees Highest-Ever Average Price for Rubies
Miner achieves $68.7 million in revenue at its latest auction.
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That piece and a Giovane necklace each sold for $240,000 at Fine Jewels auction.
Tiffany Emerald and Diamond Ring Doubles Estimate at Sotheby’s
That piece and a Giovane necklace each sold for $240,000 at Fine Jewels auction.
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