US consumer confidence positive,
despite volatile stock markets, government shutdown, and rising interest rates.
Holiday jewelry sales +3.7% and overall retail +5.1%, driven by effective
omni-channel strategies, according to Mastercard SpendingPulse. Online shopping
surges 19% as Amazon sees record season. Diamond market quiet, with Belgium and
US dealers closed for the holidays. Industry consolidation accelerates as
Eurostar enters administration, Alrosa set to acquire Kristall, and Niru Group
incorporates EZ Diamonds’ business for goods below 0.70 ct. US Oct. polished
imports +28% to $2.3B. The Rapaport Group wishes everyone a happy, healthy, prosperous and peaceful New Year.
Fancies: Fancy-shape market stable, driven by US and European demand for
fashion jewelry. Ovals and Cushions are best sellers, followed by Emeralds and
Pears. Supply shortage supporting prices for Pears. Radiants improving.
Marquises and Princesses weak. Oversizes selling well. Steady demand for
fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with prices firming for 3
to 5 ct. due to shortages. Chinese consumers seeking fancy shapes at better
prices. US supporting market for commercial-quality, medium-priced fancies
under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at
very deep discounts.
United States: Wholesale trading quiet. Most business closed between Christmas
and New Year. Focus on retail, with steady last-minute Christmas shopping.
Studs, pendants, eternity bands strong sellers. A lot of goods out on memo.
Belgium:
Polished and rough trading very quiet, with dealers on vacation during the
Christmas to New Year period. Antwerp bourses closed until January 7.
Israel: Suppliers relatively satisfied with
the season. Dealers waiting for memo returns to assess inventory needs. Focus
now on Valentine’s Day and Far East demand for the Chinese New Year. Businesses preparing to meet new tax
requirements.
India: Polished market slow, with very few
foreign buyers in Mumbai. Shortage of select in-demand items supporting prices.Good demand for 1 ct., G-J, SI1-I1, RapSpec A3+ diamonds.Trading
confidence improving as exchange rate stabilizes around INR 70/$1. Rough market
seasonally quiet, with factories maintaining steady below-capacity production
until the New Year.
Hong
Kong: Wholesale activity down slightly during
Christmas holiday. Dealers focused on filling Chinese New Year demand, but large retailers have already completed
their inventory purchases.Retail relatively busy, with steady
tourist arrivals reported over Christmas week. Yuan depreciation and US-China
trade war still a concern for luxury retailers.
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