Rapaport Press Release
RAPAPORT... PRESS RELEASE, December 3, 2013, New York: Certified polished diamond prices were stable in November, supported by improving demand during the Christmas shopping season.  Diamond dealers were focused on supplying U.S. jewelers with strong demand for lower-priced commercial quality diamonds as consumers tighten their holiday shopping budgets.  

The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds was down 0.1 percent in November. RAPI for 0.30-carat diamonds rose 1.4 percent during the month, while RAPI for 0.50-carat diamonds increased 0.2 percent. RAPI for 3-carat diamonds declined 0.3 percent.
Copyright © by Martin Rapaport

The Rapaport Monthly Report – December 2013, ''Holiday Stability,'' noted that polished diamond trading was quiet at the beginning of November as Indian dealers were on vacation during the Diwali festival. Trading improved as Thanksgiving holiday expectations rose, but trading volume remained below previous years. There is good demand for 0.30-carat to 0.50-carat, H-J, SI1-I2 diamonds and strong demand for fancy-color diamonds. U.S. retail sales reportedly declined by 2.7 percent during Thanksgiving weekend as the average spending per consumer fell 4 percent to $407.02, according to the National Retail Federation.

Far East markets continue to be driven by strong gold jewelry demand, supplemented by steady demand for gem-set jewelry. Chinese consumers are seeing value in relatively low gold prices, which have declined by about 25 percent in 2013. India’s jewelry retail sales were relatively slow during Diwali. The government has curbed consumption by raising import taxes on gold in numerous increments from 4 percent at the beginning of the year to its current level of 10 percent.

Rough diamond trading on the secondary market improved as De Beers reduced prices by about 3 percent to 5 percent at its November sight, which closed with an estimated value of $480 million. The final sight of the year, scheduled to take place from December 9 to 12, is expected to be relatively large as sightholders have deferred taking goods from previous sights until the end of the year. Large-stone rough tenders continue to garner strong demand and prices.

Global diamond markets are being driven by the holiday season, although trading remains below levels witnessed in previous years. The positive momentum is expected to continue during December and January buoyed by last minute U.S. Christmas demand and steady Far East demand in preparation for the Chinese New Year that begins on January 31.

Read the attached Rapaport Monthly Report, ''Holiday Stability,'' at www.diamonds.net/report ‎or email: specialreports@diamonds.net.
Rapaport Media Contacts: media@diamonds.net

U.S.: Sherri Hendricks +1-702-893-9400; International: Shira Topiol +1-702-425-9088; Mumbai: Manisha Mehta +91-97699-30065

About the Rapaport RapNet Diamond Index (RAPI™): The RAPI is based on the average ‎asking price in ‎hundred $/ct. for the top 25 quality 1 ct. round diamonds (D-H, IF-VS2, RapSpec-2 and better) ‎with GIA ‎grading reports offered for sale on RapNet – Rapaport Diamond Trading Network. The RAPI is ‎provided for ‎various sizes. www.RAPNET.com has daily listings of over 1 million diamonds valued over US$6.9 ‎billion and ‎‎12,000 members in over 82 countries.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, efficient, and competitive diamond and jewelry markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond price and market information. Group activities include Rapaport Information Services providing research, analysis and news; RapNet – the world's largest diamond trading network; Rapaport Laboratory Services provides GIA and gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services with monthly sales of over 50,000 carats. The Group employs 180 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, Hong Kong and Shanghai. Additional information is available at www.Rapaport.com.‎

Martin Rapaport (Publisher) grants limited permission to use copyrighted data appearing in this press release ‎‎in and in conjunction with journalistic copy, reporting or articles concerning diamond pricing and information ‎‎in graph or data presentation format only. The following credit notice must appear alongside, underneath, or in ‎‎close proximity to any use of the copyrighted data: “Used with permission of Rapaport USA, Inc. Copyright © ‎‎Martin Rapaport.  All rights reserved.”‎



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