Rapaport Press Release
RAPAPORT... PRESS RELEASE, December 4, 2012, New York: Certified polished diamond prices ‎edged down in November as the holiday season started with mixed prospects for the ‎jewelry sector. Diamond dealers were active but retailers continue to efficiently manage their already sufficient inventory levels, with little promise for significant restocking in the New Year. ‎

Superstorm Sandy and the presidential elections impacted U.S. sentiment at the start of ‎the month but spending improved over the Thanksgiving weekend, despite the ‎unresolved ''fiscal cliff'' negotiations. There are rising concerns that potential tax increases ‎will reduce luxury spending. Global economic uncertainty continues to impact jewelry ‎sales in China, particularly mid- to high-end purchases. India’s Diwali festival was ‎satisfactory for jewelers but high rupee-based gold prices have since reduced spending.‎

The RapNet Diamond Index (RAPI) for 1 ct. diamonds fell 0.7 percent during November ‎‎2012. RAPI for 0.3 ct. stones was down 0.1 percent for the month, while RAPI 0.5 ct. ‎diamonds declined 0.7 percent. RAPI for 3 ct. stones dropped 0.6 percent. ‎

During the first 11 months of 2012, RAPI for 1 ct. diamonds fell 12.5 percent. The index ‎is down 13.6 percent from one year ago. ‎

 ‎ ‎Copyright © 2012 by Martin Rapaport

According to the just released Rapaport Research Report, “Holiday Promise,” polished ‎diamond markets were active in November. There is decent demand for VS2-SI clarity ‎goods and strong demand for smaller size fancy shapes as price sensitive buyers shifted to ‎lower price points.   ‎

Rough trading has been relatively quiet as Indian diamond cutting factories were closed ‎for most of November during the Diwali festival and subsequent wedding season. Rough ‎prices held relatively firm during the month as De Beers and ALROSA reduced supply. ‎Small and mid-size mining companies noted improved prices following a weak third ‎quarter.‎

Diamond markets are expected to continue to tread cautiously in the short term with ‎December trading focused on filling last-minute orders before the end-of-year quiet ‎period. Holiday sales may deplete some retail inventory and jewelers are unlikely to start ‎significant inventory build-up in January. While the diamond market searches for a ‎bottom, trading is expected to continue at the slightly depressed levels that have been ‎prevalent for most of 2012. ‎

Read the Rapaport Research Report, “Holiday Promise”, at www.diamonds.net/reports ‎or email: specialreports@diamonds.net

Rapaport Media Contacts: media@diamonds.net    
International: Shira Topiol +1-702-425-9088 <> U.S.: Sherri Hendricks +1-702-893-9400 ‎‎<> ‎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 970,000 diamonds valued over US$6.1 ‎billion and ‎‎7400 members in over 80 countries.

About the Rapaport Group: The Rapaport Group is an international network of companies providing ‎added ‎value services that support the development of free, fair and competitive global diamond markets. ‎‎Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market ‎‎information. Group activities include publishing, research and marketing services, internet information and ‎‎diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- ‎control, ‎compliance, shipping, and financial services. Major activities of the group include the development ‎of markets ‎for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. ‎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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