Market sentiment cautious amid softening prices. 1 ct. RAPI -3.8% in Sep. and -9.7% during 3Q. Retail jewelers expecting steady holiday sales but being careful not to hold large inventories amid economic uncertainty. US in recession as GDP contracts for second consecutive quarter: -0.6% in 2Q. Rough market slow after De Beers sales +2% to $500M in Sep. Polished inventory high; diamonds on RapNet +10% to 1.88M. Antwerp dealers hoping for easier access to financial services after Belgium parliament approves new banking law. Israel Sep. polished exports +113% to $420M, rough imports +28% to $109M. Rapaport offices will be closed Oct. 10-11 for Sukkot holiday.

The diamond industry is facing contrasting trends at the start of the important fourth quarter. US jewelers are optimistic for the holiday season, but the trade is staying cautious amid the economic slowdown.

Engagement-ring shoppers are increasingly courting grown diamonds so they can get more carats for their money.

The market for bespoke engagement jewelry is booming, and to deliver the goods, creators have to balance aesthetics, mechanics and client expectations.