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RAPAPORT... The U.S. consumer price index (CPI) for jewelry declined 3.8 percent year on year to 172.35 points in September, although it was the highest reading since January. The CPI for watches, meanwhile, rose 1.9 percent to 125.29 points, marking the highest reading since November 1997. Market prices for precious metals during the month remained under pressure with the average price of gold down approximately 7.5 percent compared with one year ago, while platinum experienced a difficult month as the average price fell about 10 percent. Diamond price movement was mixed in September, according to the RapNet Diamond Index (RAPI), the global benchmark for polished goods. Polished prices for 0.30-carat rose 7.8 percent year on year, while they increased 7.6 percent for 0.50-carat stones in September, according to RAPI. However, polished prices for 1-carat diamonds fell 5.4 percent and prices were down by 3.2 percent for 3-carat diamonds. By comparison, the CPI for all product categories in September increased 1.7 percent year on year to 237.63 points.
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