Rapaport TradeWire December 23, 2022

December 23, 2022

Rapaport Market Comment - December 22, 2022 Diamond market quiet as trading tapers off for the holidays. Major dealers satisfied with season. Jewelers facing competition from general retailers that are discounting to offload excess inventory as consumers shift to lower price points. Economic caution fueling uncertainty about 2023. Covid-19 outbreak in China shaking confidence ahead of Lunar New Year (Jan. 22). Some concerned about post-holiday restocking; few fresh goods available since cutters lowered polished production. Indian suppliers keeping prices firm for 0.30 ct., D-F, IF-VVS certified goods. De Beers Dec. sight +22% to $410M, estimated 2022 rough sales +20% to $5.8B. Rapaport wishes everyone happy holidays. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.51% 0.68% -7.52% 0.50 ct -0.21% -0.77% -10.17% 1.00 ct -0.30% -1.55% -9.35% 3.00 ct -0.37% -1.49% -1.82%

Market Reports   United States: Mid-size to large jewelers carefully managing inventory, hedging against potential downturn in 2023…   Belgium: Very little trading; bourses closed for holidays…   Israel: Suppliers have finished holiday orders and are waiting to assess sell-through rate on memo items…   India: High gold prices creating some concerns for domestic consumers…   Hong Kong: Local Hong Kong demand improving as economy opens up for festival period…

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China's Recovery Is a Long Way Off By Joshua Freedman Empty stores and a challenging economy indicate a slow New Year season ahead. But things should be better by March, dealers predict. Read More

How Well Do You Know Your 2022 Diamond News? By Joshua Freedman Find out if you're an expert by taking Rapaport Magazine's quiz of the year. Read More

For Love of Lapis Lazuli By Cynthia Unninayar This deep-blue stone has been gracing sculptures, mosaics, paintings and personal adornments for millennia. Read More

Top Stories of the Week US Retail Sales Slip Amid Inflation Squeeze Unfavorable comparison with October's early holiday shopping also dented November figure. See More Super Saturday Disappoints Despite Slight Uptick Traffic rises only 0.2% as shopping holiday falls earlier than usual. See More "> De Beers Sales Sluggish at Year's Final Sight Customers "taking prudent approach," miner says. See More Jewelers Vigilance Committee Seeks Comments on FTC's 'Green Guides' Environmental directives getting first review since 2012. See More Big Diamonds Fetch Strong Prices at Christie's Seven of top 10 pieces at Paris Jewels auction exceeded high estimates. See More Sotheby's to Auction Pendant Favored by Princess Diana Attallah cross by jeweler Garrard adorned the royal at several public events. See More Swiss Watch Exports See Record Performance Increased shipments to US and UK in November outweighed drop in orders from China and Hong Kong. See More Brandee Dallow Returns to Roots at Grandview Klein Industry veteran joins diamond supplier as chief communications and sustainability officer. See More India Polished Exports Drop Ahead of Holidays Shipments declined 4% year on year in November. See More

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