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Rapaport TradeWire November 1, 2018

Nov 1, 2018 11:42 AM   By Rapaport
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Rapaport TradeWire
November 1, 2018
RAPAPORT MARKET COMMENT
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Rising expectations for holiday season as Conference Board’s US consumer confidence index hits 18-year high in October. Steady US demand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds, but polished prices softening amid India liquidity concerns. 1 ct. RAPI -0.9% in October. Rough market quiet, with factories closing for next week’s Diwali festival. Jewelers reducing in-store inventory, using technology to tap into suppliers’ stock and improve the customer experience. Letšeng mine 3Q average price -1% to $1,841/ct. Alrosa joins De Beers Tracr blockchain. Petra Diamonds appoints Varda Shine to board. The Rapaport Group wishes all our friends a happy, enlightening Diwali.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.25% -1.45% 4.48%
0.50 ct -0.04% -0.52% 4.43%
1.00 ct -0.05% -0.88% 0.67%
3.00 ct -0.90% -1.05% -2.37%
RAPI Yearly Graph
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Market Reports
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United States: Jewelers avoiding unnecessary inventory and taking more goods on memo...
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Belgium: Fewer Indian buyers in Antwerp due to upcoming Diwali holiday and tight liquidity in Mumbai market...
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India: Polished trading steady as dealers fill orders before the November 7 Diwali break...
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Israel: Steady activity, with dealers focused on US orders. Traders looking for buying opportunities in India before Diwali...
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Hong Kong: Traders optimistic for November peak season, despite concerns over impact of US-China trade war on consumer spending...
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Trade Wire 600X160 April 2018
The Diamond Trade’s Provenance Challenge
WITH Avi Krawitz

Source-verification programs are poised to become a standard feature of diamond sales, with early adopters set to gain market share. The October Rapaport Research Report outlines the most effective ways to trace a diamond, focusing on some of the more innovative programs available today, and assessing the added value that source verification provides.

UPS AND DOWNS
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US Online Spending to Rise 15% During Holiday Season
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Hunt Turns Up Diamond Lost at Football Stadium
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NY Slaps Ivanka Trump Jewelry Brand with $200K Tax Lien
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Savvy Crew Pulls Off More Than $10M in Heists
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WEEKLY NEWS
retail
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Major US Retailers Embrace Synthetic Diamonds
J.C. Penney notes growing demand for the category.
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Court Tells Sears to Pay Memo Vendors
Judge instructs retailer to set up account for transferring proceeds to consignment suppliers.
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Richemont and Alibaba Bring Luxury to China
Joint venture will improve key market’s access to Swiss retailer’s YNAP and Mr Porter platforms.
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Signet Offers First ‘Conflict-Free’ DRC Gold
Richline-made jewelry on sale at Kay and Zales.
industry
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Prices Rise for Pink and Blue Diamonds
Yellows decline during third quarter.
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WFDB Names Shanghai Bourse Chief as VP
Lin Qiang succeeds Yoram Dvash, who will head a new think tank.
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Blue Diamonds to Lead Sotheby’s Geneva Auction
5-carat ring carries estimate of $9 million to $12 million.
mining
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Alrosa Joins De Beers Blockchain
Source verification requires industry cooperation, Russian miner says.
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Gemfields Unearths 5,655ct. Emerald
Company will offer stone at its November auction in Singapore.
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Sales Deferral Leads to Lucapa Drop
Miner withholding large stones until new Angola reforms go into effect.
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Higher Grades Sustain Gahcho Kué Production
Improved carat-recovery rate offsets impact of planned mine closure.
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Gem Diamonds Raises Full-Year Forecast
Strong third-quarter production prompts optimistic outlook.
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Petra Adds Ex-De Beers Exec to Board
Varda Shine will become a non-executive director.
general
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Bonhams to Sell Rare Chameleon Diamonds
Color-changing stones to go under hammer in Hong Kong.
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JA National Convention to Launch in July
Forum will take place during week of jewelry events in New York.
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FINANCE
Diamond Industry Stock Report
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US and Hong Kong retail stocks recovered this week after recent slides, with share prices rising at Signet (+11%), Tiffany (+4%), Macy’s (+6%), Luk Fook (+4%) and Chow Tai Fook (+2.6%). Petra Diamonds (+15%) benefited from positive quarterly results, while disappointing figures dented Mountain Province (-9%), Firestone Diamonds (-4.4%) and Lucapa (-4.3%). 

Rapnet Trade Wire
Tradewire Square Late October Single Stone Revised
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