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Rapaport TradeWire August 26, 2021

Aug 26, 2021 10:59 AM   By Rapaport
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August 26, 2021
RAPAPORT MARKET COMMENT
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Las Vegas shows open with positive sentiment but fewer exhibitors and light traffic. Serious buyers attending. Dealers hoping JCK will signal start of holiday buying after 3Q slowdown. Polished inventory rising but shortages remain. Difficult to find top-quality diamonds. Rising expectations for holiday season, but retail growth starting to decelerate. Jewelry ranks among top-selling categories for Macy’s in 2Q. Rough market stable during De Beers sight. Prices softening on the secondary market. Gem Diamonds sells Ghaghoo mine for $4M. De Beers introduces Code of Origin program for jewelers to sell De Beers-sourced diamonds; extends Lightbox lab-grown offering to 2 ct.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.55%
-1.21%
0.61%
0.50 ct
-0.33%
-0.41%
5.92%
1.00 ct
-0.07%
0.16%
19.19%
3.00 ct
-0.43%
0.04%
16.25%
RAPI Yearly Graph
Market Reports
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United States: Less emphasis on memo as jewelers need goods...
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Belgium: Rough market steady but buyers cautious about price levels...
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Israel: Fewer suppliers than usual at Las Vegas fairs amid travel restrictions and uncertainty about shows’ effectiveness...
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India: Steady polished production expected until November 4 Diwali break...
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Hong Kong: Local retail stable, with lower-budget jewelry moving better than before...
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RAPAPORT AT JCK LAS VEGAS

The annual Rapaport Breakfast and Social Responsibility Conference will take place online and at the JCK Las Vegas show.

Gina Drosos from Signet Jewelers will give a short speech. 

Rapaport Breakfast: Sunday, August 29, 8 a.m. to 10 a.m. Pacific Daylight Time.

Social Responsibility Conference: Sunday, August 29, 1 p.m. to 4 p.m. Pacific Daylight Time.

 Please register to attend online or in person.

Sustainability: The Full Picture
WITH DAVID KELLIE

The industry is going beyond climate change to deliver on a broader concept of social and environmental impact, according to the CEO of the Natural Diamond Council.

UPS AND DOWNS
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WEEKLY NEWS
industry
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De Beers to Launch New Origin Program
Miner continues consolidation of branding and marketing efforts.
Alrosa: Gokhran Sale Has Cooled Rough Prices
Valuations down 3% to 5% on secondary market since July auction.
retail
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De Beers Launches Larger Lab-Grown Diamonds
Lightbox introduces stones up to 2 carats, along with a higher-end line.
Tiffany’s Beyoncé, Jay-Z Campaign Is All About Love
Jeweler aims for a creative take on modern romance.
Macy’s Jewelry Sales Strengthen in Second Quarter
Category sees double-digit growth as consumers refresh wardrobes for return to social occasions.
Australia Lockdowns Weigh on Michael Hill Sales
Group revenue fell 2% in first seven weeks of fiscal 2022.
mining
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GemFair: Raising the Standards
The De Beers program helps artisanal miners make a dignified living, explains Feriel Zerouki, the company’s senior vice president for corporate affairs.
Petra Partners with Stargems on $14M Diamond Sale
Agreement over 342.92- and 18.30-carat stones will see companies share proceeds of final polished.
Gem Diamonds Sells Botswana’s Ghaghoo Mine
Asset fetches $4 million following four-year search for buyer.
Atrocities Haunt Zimbabwe’s Marange Fields
Farai Maguwu of the Centre for Natural Resource Governance believes the Kimberley Process is greenwashing the country’s conflict diamonds.
general
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24ct. Diamond Fetches $2M at Christie’s Online Sale
Pendant becomes second-most expensive jewelry piece at any digital auction by the company.
IGI President Joins Board of Mercury Free Mining
Avi Levy will campaign to eliminate toxic substance’s use in gold production.
Swiss Watch Exports Surge on US, China Demand
Continued recovery and increased domestic spending boosted orders in July.
AGS Mourns Death of Former Leader Al Woodill
He served as executive director for 40 years.
Gem Legacy Appoints Melissa Quick to Board
Chicago retail professional joins the nonprofit after a visit to mines in Africa showed her the potential for positive impact.
FINANCE
Diamond Industry Stock Report
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US retail stocks gained as the economy reopened and consumers shopped in preparation for a return to work and school. Macy’s (+31%) and Signet (+14%) rose. Hong Kong shares fell after China left its benchmark lending rate unchanged, with declines for Luk Fook (-8%) and Chow Sang Sang (-5%). European retail also suffered following a resurgence of Covid-19. Pandora (-3%) and LVMH (-2%) both dropped. Mining stocks were relatively stable. Mountain Province (+3%), Rio Tinto (+2%) and Lucapa (+2%) were up, while Petra (-2%) and Lucara (-1%) slipped.

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