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Rapaport TradeWire November 1, 2018
Nov 1, 2018 11:42 AM
By Rapaport
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| November 1, 2018 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: Jewelers avoiding unnecessary inventory and taking more goods on memo... |  |  | Belgium: Fewer Indian buyers in Antwerp due to upcoming Diwali holiday and tight liquidity in Mumbai market... | | |  | India: Polished trading steady as dealers fill orders before the November 7 Diwali break... | | |  | Israel: Steady activity, with dealers focused on US orders. Traders looking for buying opportunities in India before Diwali... | | |  | Hong Kong: Traders optimistic for November peak season, despite concerns over impact of US-China trade war on consumer spending... | | |  | | | 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. |  | | | WEEKLY NEWS | | retail | | | | Major US Retailers Embrace Synthetic Diamonds | | J.C. Penney notes growing demand for the category. |  | | | Court Tells Sears to Pay Memo Vendors | | Judge instructs retailer to set up account for transferring proceeds to consignment suppliers. | | | | | Richemont and Alibaba Bring Luxury to China | | Joint venture will improve key market’s access to Swiss retailer’s YNAP and Mr Porter platforms. | | | | | Signet Offers First ‘Conflict-Free’ DRC Gold | | Richline-made jewelry on sale at Kay and Zales. | | | | | industry | | | | Prices Rise for Pink and Blue Diamonds | | Yellows decline during third quarter. | | | | | WFDB Names Shanghai Bourse Chief as VP | | Lin Qiang succeeds Yoram Dvash, who will head a new think tank. | | | | | Blue Diamonds to Lead Sotheby’s Geneva Auction | | 5-carat ring carries estimate of $9 million to $12 million. | | | | | mining | | | | Alrosa Joins De Beers Blockchain | | Source verification requires industry cooperation, Russian miner says. | | | | | Gemfields Unearths 5,655ct. Emerald | | Company will offer stone at its November auction in Singapore. | | | | | Sales Deferral Leads to Lucapa Drop | | Miner withholding large stones until new Angola reforms go into effect. | | | | | Higher Grades Sustain Gahcho Kué Production | | Improved carat-recovery rate offsets impact of planned mine closure. | | | | | Gem Diamonds Raises Full-Year Forecast | | Strong third-quarter production prompts optimistic outlook. | | | | | Petra Adds Ex-De Beers Exec to Board | | Varda Shine will become a non-executive director. | | | | | general | | | | Bonhams to Sell Rare Chameleon Diamonds | | Color-changing stones to go under hammer in Hong Kong. | | | | | JA National Convention to Launch in July | | Forum will take place during week of jewelry events in New York. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | 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%). | | | | | 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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