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Rapaport TradeWire October 10, 2019
Oct 15, 2019 2:00 AM
By Rapaport
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| October 10, 2019 | | RAPAPORT MARKET COMMENT |  | | Diamond market quiet over Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week, with buyers looking for polished before Diwali break (Oct. 27). Shortages in RapSpec A3+, nonfluorescent goods as manufacturers maintain low production. China retail sales +8.5% during Oct. 1 Golden Week. Luxury brands shifting high-ticket items from Hong Kong to Shanghai stores. LVMH 3Q jewelry & watch sales +8% to $1.24B. Sotheby’s HK sells $38M, with 10.64 ct., purplish-pink, IF diamond selling for $19.9M ($1.9M/ct.); auction also reflects sluggish big-stone market as 80.88 ct., D, FL diamond fails to sell. Rapaport offices will be closed on Oct. 14-15 for the Jewish holidays. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.08% | 0.39% | -19.63% | | 0.50 ct | -0.14% | -0.52% | -10.07% | | 1.00 ct | 0.10% | 0.17% | -5.70% | | 3.00 ct | 0.00% | -0.37% | -19.60% |  | | 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. | | | | WFDB Prepares Master Plan to Boost Relevance |  | | WITH Avi Krawitz | Facing challenging market conditions and new organizations that have diluted its mandate, the World Federation of Diamond Bourses is asking if its arbitration role is enough to galvanize the trade. |  | | | WEEKLY NEWS | | industry | | | | Diamond Trade Cautious Ahead of Holiday Season | | 1-carat RAPI down 0.3% in September. |  | | | Pink Diamond Nets $20M at Sotheby’s | | 10.64-carat stone leads Hong Kong Magnificent Jewels and Jadeite sale. | | | | | Antwerp Bans Lab-Grown from Trading Floors | | Rule applies to all four of the city’s bourses. | | | | | retail | | | | NRF Predicts Rise in Holiday Sales | | Job growth and higher wages have lifted Americans’ spending power, federation says. | | | | | LVMH Jewelry and Watch Revenue Jumps | | Sales at Bulgari and Hublot help drive 8% increase. | | | | | Rio Tinto Unveils $1.1M Argyle Jewels | | Necklace-and-ring set features 673 pink, white, yellow, blue and champagne diamonds. | | | | | mining | | | | Cullinan Blue Could Fetch $15M, Analysts Say | | Petra Diamonds to hold tender in Johannesburg next month. | | | | | Alrosa Finds Diamond Inside a Diamond | | Miner makes discovery at the Nyurba division in Yakutia. | | | | | Lesotho Renews Letšeng Lease | | Rate that Gem Diamonds must pay government increases to 10% of sales. | | | | | general | | | | DPA Launches ‘Diamond Journey’ Campaign | | Ads depict story from volcanic eruption through to jewelry. | | | | | Phillips to Offer Rare Van Cleef Zip Necklace | | Design was the brainchild of Wallis Simpson, Duchess of Windsor, according to legend. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks had a positive week, with J.C. Penney (+11%) leading the gains among US companies, while Signet (+3.5%) also rose. European shares increased after sales data from LVMH (+5%) indicated the luxury group had weathered challenges in the Hong Kong market. Kering (+4.2%), Richemont (+2.4%) and Swatch Group (+1.2%) all benefited. Jewelers in India and the Far East continued to drop, with Titan (-4.6%) heading the declines following disappointing quarterly results. Petra Diamonds (+16%) was the standout mining performer amid optimism for its upcoming tender of a 20-carat blue diamond. |  | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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