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RAPAPORT ® TRADEWIRE ®
October 21, 2022
Rapaport Market Brief - October 20, 2022

Diamond market cautious ahead of Diwali festival. Indian manufacturers raising discounts to boost sales before the break, since factories close from Oct. 24. Dealers expect further price declines and lack urgency to buy. US bridal and high end lifting the industry as early holiday shopping begins. Consumers seeking deals as inflation, rising interest rates and volatile stock market squeeze discretionary spending. China-Hong Kong trading slow, but retail improving, with lower gold price boosting FY2Q activity: Chow Tai Fook sales +26%; Luk Fook same-store sales +40%. AGS Laboratories to close at end of 2022 and merge into GIA. The Rapaport Group wishes all our friends a happy Diwali.

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Dear Friends,

Greetings and best wishes for the Diwali holiday. May the holiday bring joy and happiness to you and yours.

As the diamond created sparkle and brilliance reflecting light, so may this holiday of light bring our diamond community together with hope, success, knowledge and fortune.

Martin Rapaport

Chairman

RAPAPORT

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.36% -2.23% -6.00%
0.50 ct -0.91% -4.01% -6.30%
1.00 ct -1.04% -4.25% 0.36%
3.00 ct -0.28% -2.29% 11.93%
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Grown Versus Mined: The Retail Battleground
By Avi Krawitz

The success of the synthetic and natural diamond markets depends largely on the narrative of the retail jeweler. Rapaport Senior Analyst Avi Krawitz explores how the industry is playing the two segments off each other.

READ MORE
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