Rapaport Press Release
Las Vegas Shows Signal a Steady U.S. Jewelry Market
RAPAPORT... PRESS RELEASE, June 10, 2013, New York: Certified polished diamond prices were flat in May as trading was reserved during the Las Vegas shows. U.S. jewelry retail sentiment has improved due to rising consumer confidence, better employment numbers, and bullish real estate and stock markets. But weakness in other centers has influenced a cautious diamond trading environment.

While the mood in Las Vegas was positive, polished diamond trading was slow but in line with expectations. The shows signaled steady U.S. retail jewelry demand, which has boosted predictions for the second half of the year. Far East and Indian markets remain cautious, while the U.S. continues to be the mainstay of the global diamond and jewelry market.    

The RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds fell 0.1 percent in May. RAPI for 0.30-carat rose 2.1 percent driven by steady demand for affordable, commercial diamonds. RAPI for 0.50-carat declined 0.1 percent and RAPI for 3-carat increased 0.8 percent.

Diamond prices in most sizes have been stable during the first five months of the year, while 0.30-carat stones increased by 8.7 percent on rising Far East demand for these goods.
Copyright © by Martin Rapaport

According to the just released Rapaport Monthly Report – May 2013, “Slow Trading Meets Expectations,” diamond markets were stable ahead of last week’s Las Vegas shows. Diamond manufacturers closed their factories for the summer vacations while facing pressure from further rough price increases, low volume trading and tight liquidity. The sharp rupee depreciation has influenced further caution in the domestic market.

Rough trading on the secondary market slowed considerably after De Beers increased prices at its May sight. De Beers boxes were selling at list price, and some at discount, in the weeks following the sight. Overpriced rough is unsustainable given caution in the polished markets and therefore this week’s June sight is expected to be small and uneventful.

Read the Rapaport Research Report, “Slow Trading Meets Expectations,” at www.diamonds.net/report ‎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 1 million diamonds valued over US$6.5 ‎billion and ‎‎more than 12,000 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 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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