Polished trading slower than expected after Hong Kong show, but dealers more upbeat than before. China outlook positive even though buyers lack urgency and are testing price levels. US market stable. Large jewelry chains driving demand for small goods. Signet Jewelers 4Q revenue -5% to $2.7B, profit -12% to $277M. Brilliant Earth 4Q sales -2% to $120M, profit -46% to $6M. Petra Diamonds rough prices +12.5% in 1Q; fancy colors and small stones strong. Gem Diamonds 2022 revenue -6% to $189M, profit -26% to $20M. Burgundy Diamond Mines buys Ekati owner Arctic Canadian for $136M. Martin Rapaport to address New York Diamond Dealers Club on Monday, March 20, 2:30 p.m. EST. Register here.

The Russia situation is forcing the diamond trade to take responsible sourcing to the next level. Considering the industry’s long history of dealing with reputational challenges, the ongoing war in Ukraine adds a new dimension.

Luxury brands are having a moment, but a new Apple product is providing tough competition for the cheaper segment.

Designer Christian Tse is working to perfect this promising production method for precious metals.