Financial Data
Metals
Gold $1,756.62 +0.59%

Silver $19.87 +0.17%

Platinum $890.00 +0.45%

Palladium $1,988.00 +0.75%

Currencies
Euro $1.02 +0.28%

Pound $1.22 +0.46%

Yuan($) 6.75 +0.04%

Rupee($) 78.60 +0.43%

Stocks
Signet Jewelers $61.32 +0.59%

Chow Tai Fook HKD 15.52 -2.63%

Chow Sang Sang HKD 11.62 -1.36%

Titan INR 1,869.60 -0.04%

Richemont CHF 112.00 -1.71%

LVMH €679.00 -1.35%

Swatch Group CHF 244.90 -3.05%

Anglo American GBX 2,991.50 +2.77%

Petra Diamonds GBX 102.00 -4.67%

Lucara Diamond CAD 0.65 +1.56%

Gem Diamonds GBX 47.00 -1.26%

Rapaport Weekly Market Comment
Aug 4, 2022 10:00 AM By Rapaport News

News: Diamond market quiet. Deep concerns about trading slowdown and prospects for 2H. US retail steady; jewelers cautious about buying large amounts of inventory. China sluggish amid rising geopolitical tensions and economic uncertainty. Mumbai IIJS show opens with spotlight on domestic jewelry market, exchange rate volatility, and rough supply. Rough trading stable as Alrosa’s isolation spurs demand for non-Russian production. Miners and service providers accelerating source-verification programs. Lucapa 2Q revenue -36% to $22M, recovers 170 ct., type IIa pink at Lulo mine. Asian Star 1Q sales +45% to $159M, profit +4% to $2.7M. GIA to open Dubai lab. AGTA appoints John Ford as CEO.

Fancies: Market has cooled for 0.30 to 1.20 ct. diamonds. Supply shortages of well-cut fancies supporting prices. 1.20 to 3.99 ct., F-J, VS-SI goods stable. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Growing interest in fancy-shape engagement rings. Oversizes trading at higher prices than usual. Excellent shapes commanding premiums. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Activity improving after last month’s seasonal slowdown. Inflation has split retail market: Wealthy still spending on luxury goods, but middle-class Americans prioritizing essential purchases. Steady demand from high-end jewelers as industry starts to prepare holiday inventory. Solid movement in 3 ct. and larger, F-H, VS-SI categories. Weaker appetite for 1 to 2 ct., G-I, SI-I1 diamonds destined for lower-income consumers.

Belgium: Bourses shut for summer. Traders uncertain about second half due to US and China volatility and high rough prices. GIA Antwerp lab closes amid limited demand.

Israel: Trading quiet during vacation period and decline in global orders. Locals reluctant to buy as overseas clients reduce their inventory needs. Country’s polished exports drop 7% year on year to $296.6 million in July; rough exports fall 10% to $127.9 million.

India: Demand down amid uncertainty in US market and ongoing weakness in China. Prices for certified diamonds have slid in rounds and fancy shapes. Parcel goods also slow. Polished production still low as high rough costs continue squeezing manufacturing margins. Many hoping India International Jewellery Show (IIJS) will kickstart trading.

Hong Kong: Activity sluggish amid summer lull and lack of cross-border travel. Slow trading at recent Hong Kong International Jewellery Show; few foreign businesses were present. Government consumption vouchers having limited impact on luxury sector. June retail sales of jewelry, watches, clocks and valuable gifts up 2.3% year on year at HKD 3.39 billion ($431.2 million), but market losing steam compared to previous months. Stores shifting to online focus as in-person traffic declines.

Financial Data
Metals
Gold $1,789.12 +0.18%

Silver $20.71 -0.56%

Platinum $942.00 -0.32%

Palladium $2,158.00 -1.30%

Currencies
Euro $1.02 +0.31%

Pound $1.21 +0.18%

Yuan($) 6.75 +0.04%

Rupee($) 79.60 -0.05%

Stocks
Signet Jewelers $63.68 -0.52%

Chow Tai Fook HKD 16.40 +1.11%

Chow Sang Sang HKD 11.62 -1.36%

Titan INR 1,869.60 -0.04%

Richemont CHF 114.70 +1.73%

LVMH €689.10 +1.01%

Swatch Group CHF 253.90 +1.44%

Anglo American GBX 2,991.50 +2.77%

Petra Diamonds GBX 104.00 +2.97%

Lucara Diamond CAD 0.63 -4.55%

Gem Diamonds GBX 47.15 +2.95%

Rapaport Weekly Market Comment
Aug 11, 2022 10:00 AM
News: Diamond market cautious amid China slowdown and US economic uncertainty. Polished prices declining. Inventory remains high. IIJS show reflects upbeat Indian jewelry market and spurs optimism for Diwali. Cutters maintaining lower production and anticipate strong demand for De Beers rough at next week’s sight. Speculation that large manufacturers able to purchase Alrosa rough through non-dollar payment channels. Signet Jewelers inks deal to buy Blue Nile for $360M, lowers FY revenue guidance by 5% to $7.6B vs. $7.8B last year. Titan 1Q sales +169% to $1.2B, profit of $99M vs. $2.3M last year. Sarine 1H revenue -13% to $13M, profit -48% to $6.5M, reflecting drop in rough sales and manufacturing.

Fancies: Market has cooled for 0.30 to 1.20 ct. diamonds. Supply shortages of well-cut fancies supporting prices. 1.20 to 3.99 ct., F-J, VS-SI goods stable. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Growing interest in fancy-shape engagement rings. Oversizes trading at higher prices than usual. Excellent shapes commanding premiums. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Trading stable amid high-end growth. Mid-market weakening due to impact of inflation on budgets. Demand for 3 ct. and larger diamonds strong; 1 ct. stones softer. Drop in polished prices has given buyers upper hand and pressed Indian manufacturers to offer more attractive terms. Melee slow. Jewelers assessing consequences of Signet-Blue Nile deal.

Belgium: Market quiet during summer shutdown. Bourses closed for another week. Rough trade slow ahead of next week’s De Beers sight (August 15 to 19). Polished dealers uncertain due to decline in orders from US and China.

Israel: Bourse officially on vacation from August 8 to 21. Activity limited; many dealers absent. Market sluggish amid global slowdown. Traders hoping for improvement ahead of fourth-quarter holidays.

India: Domestic market upbeat. Mumbai IIJS fair signals robust jewelry demand as Diwali festival and wedding season approach. Gold driving local sales. Diamonds also popular due to cultural changes and Western style influences. Titan reports strong growth as consumers shift to brands such as Tanishq. Manufacturers concerned about China slowdown but expect steady US holiday sales despite current slump. Lower rough supply reducing polished production. Large manufacturers keeping workers busy with lab-grown rough.

Hong Kong: Sentiment picking up as government shortens quarantine period for arrivals. Dealers optimistic that increase in tourism will boost sales in coming months. Consumers receiving latest batch of stimulus vouchers, but impact on luxury spending expected to be small. Mainland orders improving; solid interest in 0.30 to 0.80 ct. and 1 to 2 ct., F-H, VS-SI1, 3X diamonds. Engagement-ring

Financial Data
Metals
Gold $1,791.78 -0.24%

Silver $20.59 -1.58%

Platinum $944.00 +1.27%

Palladium $2,172.00 +1.84%

Currencies
Euro $1.03 +0.16%

Pound $1.22 -0.15%

Yuan($) 6.72 +0.31%

Rupee($) 79.10 +0.65%

Stocks
Signet Jewelers $70.45 +5.06%

Chow Tai Fook HKD 15.78 -0.63%

Chow Sang Sang HKD 11.62 -1.36%

Titan INR 1,869.60 -0.04%

Richemont CHF 112.05 0.00%

LVMH €700.40 +0.21%

Swatch Group CHF 238.00 -1.16%

Anglo American GBX 2,991.50 +2.77%

Petra Diamonds GBX 101.00 -5.61%

Lucara Diamond CAD 0.69 +7.81%

Gem Diamonds GBX 41.00 -14.58%

Rapaport Weekly Market Comment
Aug 18, 2022 10:00 AM By Rapaport News
News: Trading seasonally quiet during summer lull. Lack of sales to Far East weakening sentiment, with US demand supporting market. Increasing concern about impact of inflation and higher interest rates on mid-income consumers. Holiday outlook positive. Manufacturers maintaining lower production due to slowdown in orders. Polished trading sluggish. Rough prices stable at De Beers sight; premiums drop to around 2% on secondary market, leaving little room for profit. Gem Diamonds 1H revenue -4% to $100M, average price -7% to $1,745/ct. Brilliant Earth 2Q sales +18% to $109M. Sarine launches automated in-factory grading. Pandora to roll out lab-grown collection in US on Aug. 25.

Fancies: Market has cooled for 0.30 to 1.20 ct. diamonds. Supply shortages of well-cut fancies supporting prices. 1.20 to 3.99 ct., F-J, VS-SI goods stable. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Growing interest in fancy-shape engagement rings. Oversizes trading at higher prices than usual. Excellent shapes commanding premiums. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Market improving after summer slowdown. Trade optimistic for holiday season. Overseas suppliers holding prices firm. Steady memo demand for 3X round, 1.20 ct.+, F-H, VS-SI goods. Stones above 2 ct. performing better than smaller sizes, reflecting reduced mid-market sales due to inflation. Some improvement in 1 ct. segment.

Belgium: Slow activity during vacation period with bourses still closed for summer. Rough trading reduced during De Beers sight week due to concern about consumer demand; rough premiums declining.

Israel: Diamond exchange on summer break, with few dealers present. Optimism for holidays as US demand remains solid.

India: Short week due to 75th Independence Day. US orders supporting trade during summer lull in Belgium and Israel. Limited sales to China, which is still suffering effects of Covid-19 lockdowns. Some US buyers reporting high asking prices and limited discounts. Polished production remains low due to uncertain demand and shortages of Russian rough. Titan reports increase in market share and notes rise in sourcing costs since November 2021 because suppliers have increased prices.

Hong Kong: Market continues to improve. Local sentiment picking up as coronavirus situation eases. China slow. Jewelers increasing inventory levels gradually in preparation for holiday period. Expectations rising for fourth quarter. China reports mainland July retail sales of gold, silver and jewelry up 22% year on year to CNY 24.7 billion ($3.65 billion).

Financial Data
Metals
Gold $1,697.78 -0.61%

Silver $19.65 -1.21%

Platinum $907.00 -0.11%

Palladium $2,100.00 -1.19%

Currencies
Euro $1.00 -0.04%

Pound $1.15 -0.23%

Yuan($) 6.96 +0.20%

Rupee($) 79.46 +0.28%

Stocks
Signet Jewelers $58.14 -8.53%

Chow Tai Fook HKD 14.48 -1.23%

Chow Sang Sang HKD 11.62 -1.36%

Titan INR 1,869.60 -0.04%

Richemont CHF 106.00 -0.42%

LVMH €654.20 +0.51%

Swatch Group CHF 228.40 +0.22%

Anglo American GBX 2,991.50 +2.77%

Petra Diamonds GBX 112.00 +1.82%

Lucara Diamond CAD 0.60 -1.64%

Gem Diamonds GBX 36.50 0.00%

Rapaport Market Brief - September 15, 2022
Sep 15, 2022 11:00 AM By Rapaport News

News: Diamond market uncertain as prices continue decline amid sluggish trading. Program goods, including nice SIs and oversizes, doing better than lower qualities. Discretionary spending squeezed as Aug. US inflation +8.3% from a year ago and stock market plunges. Rising expectations for holiday season with pent-up demand for in-store shopping. Mastercard projects Nov.-Dec. US jewelry sales +2.2%; Deloitte forecasts overall retail +4% to 6%. US demand supporting the trade. Rough trading cautious with reduced auction demand before next week’s De Beers sight. Petra Diamonds FY sales +44% to $585M, profit -55% to $88M. New Watch & Jewellery Initiative for sustainability gains nine members.

Fancies: Market has cooled for 0.30 to 1.20 ct. diamonds. Supply shortages of well-cut fancies supporting prices. 1.20 to 3.99 ct., F-J, VS-SI goods stable. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Growing interest in fancy-shape engagement rings. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Positive sentiment with optimistic outlook for holiday season. Jewelers seeing strong demand for branded pieces and classic categories such as tennis bracelets, pendants, and bridal. Polished trading improving. New York dealers filling orders for rounds in 1 ct. and larger, and fancies above 2 ct. Top-quality, 3X goods with no fluorescence are bestsellers as demand has narrowed and buyers have become more selective.

Belgium: Polished trading uncertain amid slowdown in demand. Buyers pushing for higher discounts, sensing suppliers need to raise liquidity and move inventory. US orders steady, with good demand for 1 ct., G-J, VS-SI diamonds. Rough market cautious ahead of next week’s De Beers sight. Buzz about Antwerp’s Facets 2022 conference, which took place Sep. 14 to 15.

Israel: Trading cautious as prices continue decline. Buyers anticipating lower prices and prepared to wait before placing bulk orders. Steady US sales not enough to compensate for weakness in other markets. Slight slowdown in 1 ct. rounds. Fancies above 2 ct. improving. Bidders making lower offers at rough auctions.

India: Market sluggish amid weak Far East demand. Liquidity concerns as sales have dropped. Some optimism that Jewellery & Gem World show in Singapore will kick-start trading. Slow movement in 0.30 to 0.50 ct. categories. Larger sizes better. Rising buyer interest in fancy shapes. Polished production below capacity; inventory high and rough supply expensive.

Hong Kong: Trading slow but sentiment better than during lockdowns in China. Optimism that Covid-19 restrictions will ease further, enabling reduced quarantine periods. Few buyers and dealers traveling to Singapore for jewelry show due to isolation requirements on return. Jewelers have reduced inventory buying ahead of Oct. 1 Golden Week.

Rapaport Market Brief - September 22, 2022
Sep 22, 2022 11:00 AM

News: Polished demand slower than usual at this time of year. Jewelers optimistic for holiday season but hesitant to buy inventory. Consumers seeking convenient and interactive shopping experience that combines digital and in-store platforms. De Beers rough prices stable at Sep. sight; secondary market seeing fewer buyers and lower premiums. Grib Diamonds cancels Oct. auction after bank blocks customer payments. India Aug. polished exports -7% to $1.9B, rough imports +12% to $1.4B. US July polished imports +9% to $1.9B. Rapaport offices will be closed on Monday and Tuesday (Sep. 26-27) due to Rosh Hashanah. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year.

Fancies: Fashion driving demand for elongated ovals, emeralds and radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 and larger, F-J, VS-SI goods stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.

United States: Sentiment mixed as holiday orders are relatively slow. Jewelers carefully managing inventory, keeping fewer goods in store and taking more on memo. Melee and smaller sizes slightly slower. 1.25 to 2 ct., G-I, SIs and nice fancy shapes driving the market. Suppliers with the right goods and strong relationships are doing well.

Belgium: Polished trading steady with dealers focused on filling US holiday orders. Europe cautious amid economic uncertainty. Weak euro and high interest rates impacting sentiment. Stable demand for under 1 ct., G-J, VS-SI goods. 3 to 5 ct. categories also doing well. Rising demand for fancy-color diamonds. Rough trading slow during De Beers sight.

Israel: Activity quiet in diamond exchange as many dealers are abroad trying to sell before the Jewish festival period. US holiday orders driving sales, but SIs slightly weak. Suppliers focused on raising liquidity and reducing inventory. Elongated, fine-cut fancy shapes doing well. Bourse to close next Monday and Tuesday for Rosh Hashanah.

India: Market slow but stabilizing. US sales supporting trade amid continued slump in Far East. Weak demand for 0.30 to 0.40 ct. dossiers. Better movement in 0.50 ct. and larger, G-I, VS-SI categories. Rough market sluggish, with manufacturers seeking deep discounts on secondary market amid liquidity concerns. Polished production low despite upcoming Diwali festival (Oct. 24).

Hong Kong: Sentiment improving ahead of holiday season. Stable demand for diamonds under 2 ct. with F-J color, VS-SI2 clarity and VG+ cut. Government under pressure to abolish hotel quarantine as tourists and buyers stay away. Positive expectations for next week’s Jewellery & Gem World (JGW) Singapore show (Sep. 27-30); traders anticipate Singapore could rival Hong Kong as trading center if Covid-19 restrictions remain unchanged.

Rapaport Market Brief - September 29, 2022
Diamond trading quiet over Jewish holidays. Dealers cautious due to market slowdown as polished prices continue decline. US jewelers optimistic for 4Q. Stock market slump and strong dollar affecting sentiment. Volatile euro and record-low Indian rupee (INR 81.90/$1) squeezing dealer liquidity. Singapore show opens to mixed expectations; Chinese buyers limited by Covid-19 travel restrictions. Rough market seeing reduced demand. Manufacturers have enough inventory ahead of Diwali break. Pear, 18.18 ct., fancy-vivid pink expected to fetch $25M to $35M ($1.4M-$1.9M/ct.) at Nov. Christie’s Geneva sale. Rapaport offices will be closed on Wednesday, Oct. 5, for the Yom Kippur holiday.