Diamond market cautious after slow Sep. trading. Some softening in 0.30 to 0.70 ct. goods; 1 ct. and larger firm. US-focused dealers upbeat for 4Q holiday season as jewelry sales maintain momentum. US consumer confidence down following end of Covid-19 relief money and resurgence of Delta variant. China Oct. 1 Golden Week begins amid concerns about economic slowdown and government crackdown on tech wealth. Chow Tai Fook plans 2,000-store international expansion by 2025. Cutters operating at high capacity ahead of Diwali break. GIA continues to see five-week backlog at Mumbai lab. Rough market uncertain ahead of next week’s De Beers sight as prices on secondary market weaken.
Many traditional diamond manufacturers want to get their hands on synthetic material, but contrary to popular belief, consistent supply is hard to obtain.