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Market Comment - May. 09, 2024
Slow sales impacting prices. IF-VS weakening. 1 ct. RAPI -3.5% in Apr.; prices of round, 1 ct., D-H, SI +1%.
Finest-cut fancy shapes strong in larger sizes. Marquises moving well.
India manufacturing fewer goods ahead of summer vacation.
De Beers reduces prices at May sight: 3-grainer and smaller rough by 4%-6%, caraters by 4%. Sightholders still struggling to profit.
EU proposes exempting pre-Jan. 2024 rough and pre-Mar. polished from Russian sanctions.
Trade preparing for Las Vegas shows amid uncertain US consumer demand.
Richemont acquires Italian jeweler Vhernier.