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Rapaport TradeWire August 9, 2018
Aug 13, 2018 6:58 AM
By Rapaport
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| August 9, 2018 | | RAPAPORT MARKET COMMENT |  | | Mumbai IIJS show opens to busy jewelry section, due to pent-up demand after India’s 2Q gold jewelry sales -8% to 147.9 tonnes, according to the World Gold Council. Diamond halls quiet, with larger companies displaying finished pieces rather than loose stones. Global markets slow and still in vacation mode. Some improvement in US, with retailers focused on custom bridal pieces during summer wedding season. Samuels Jewelers files Chapter 11, with liabilities of $100M to $500M. Titan 1Q revenue +9% to $652M, profit +38% to $48M. Letšeng 2Q average price +33% to $2,742/ct. Karowe 2Q average price -39% to $782/ct. René Kamm resigns as MCH Group CEO after Swatch exits Baselworld. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.07% | -1.37% | 6.63% | | 0.50 ct | 0.09% | -0.24% | 0.61% | | 1.00 ct | 0.07% | -0.21% | 1.31% | | 3.00 ct | 0.10% | -1.32% | 1.95% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: Retail sales stable as consumer confidence edges up in July... |  |  | Belgium: Market very quiet, with bourses officially closed and most dealers on vacation until August 20... | | |  | Israel: Dealers focused on preparing inventory for the September Hong Kong show... | | |  | India: Few foreign buyers in the market, with companies preferring to wait until the Hong Kong fair... | | |  | Hong Kong: Retailers eyeing October 1 Golden Week season for next sales boost... | | |  | | | Synthetics, Swatch and the Summer |  | | WITH The Rapaport Diamond Podcast | Things are heating up in the industry. In this sweltering episode of the Rapaport Diamond Podcast, the team discusses the Federal Trade Commission’s decision to remove the word “natural” from its definition of “diamond,” and what it means for marketers. Swatch Group’s shock withdrawal from Baselworld is also on the agenda. Plus, what’s everyone’s favorite thing about the summer? |  | | | WEEKLY NEWS | | industry | | | | CEO of Baselworld Owner MCH Resigns | | René Kamm quits after Swatch Group snubs annual show. |  | | | Alrosa Sells 51ct. Dynasty at Auction | | Stone was last in five-piece collection that has fetched $10 million. | | | | | DPA Raises Concerns over Synthetics Marketing | | But lab-grown association says its members “will proudly label its stones.” | | | | | Blues Top Colored-Diamond Price Index | | Category up 6% in the second quarter, says FCRF. | | | | | Israel Bourse Bans Traders for Synthetics-Swapping | | Case involved 3- to 5-carat diamonds worth hundreds of thousands of dollars. | | | | | retail | | | | Samuels Jewelers Files for Bankruptcy | | Indian fugitive Mehul Choksi’s US business owes more than $100 million to creditors. | | | | | Pandora CEO Resigns as Sales Disappoint | | Weak demand for charms drives decline. | | | | | Titan Profit, Revenue Up in First Quarter | | Indian retailer overcomes “soft patch” in jewelry market. | | | | | Berkshire Hathaway Sees Retail Jump | | Division improves 5% in second quarter. | | | | | Pandora to Slash Nearly 400 Jobs | | Jeweler lowers full-year outlook, sending shares tumbling. | | | | | mining | | | | Lack of Top-Quality Diamonds Hits Lucara | | Second-quarter revenue down 19%, profit falls 39%. | | | | | Large Stones Lift Gem Diamonds Results | | Miner recovers record 10 specimens over 100 carats in first half. | | | | | general | | | | Alrosa Garners $1.5M at New York Polished Sale | | Miner completes first tender in city since relaunch earlier this year. | | | | | India Dents Global Gold-Jewelry Demand | | Country’s slowdown drives 2% worldwide decline in second quarter. | | | | | GIA Promises $2M in Scholarships | | Both established and aspiring professionals can apply. | | | | | Dharmanandan to Cut ‘Brightest Diamond’ Line | | Licensing partnership gives manufacturer access to seven Sirius Star designs. | | | | | Self-Purchasing Women Prefer White Gold – Poll | | Yellow gold is least popular, says MVI. | | | | | Supply-Chain Forum Achieves Charity Status | | Contributions to Jewelry Industry Summit are now fully tax-deductible. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Chow Sang Sang (-1.3%) and Chow Tai Fook (-0.8%) slipped as Hong Kong retail continued to struggle with the impact of the trade war. US shares performed better, with Macy’s (+5%), Signet (+2.1%) and Walmart (+2.1%) all up. London-listed Gem Diamonds (-2.2%) and Petra Diamonds (-10%) lost ground as heightened concerns about Brexit hit UK equities. Other mining stocks improved, with Alrosa (+1.7%) gaining after investors welcomed its new dividend policy. Lucapa Diamond (+3.9%), Mountain Province (+1.4%), Anglo American (+4.4%) and Firestone Diamonds (+2.4%) also rose. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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