Rapaport TradeWire January 6, 2023

January 6, 2023

Rapaport Market Comment - January 5, 2023 Happy New Year. Diamond markets quiet and sentiment cautious due to seasonal lull and general uncertainty. Polished prices continue to decline. 1 ct. RAPI -1.5% in Dec. and -10.7% in 2022, but 0.30 ct. RAPI +1.2% in Dec. after sharp decline in supply during the year. Midstream ended 2022 with high inventory. Manufacturers maintaining low polished production, cutting prices to offload less-popular goods and to raise liquidity. Sightholders hoping De Beers will reduce rough prices at Jan. 16 sight to stimulate demand and ease manufacturing profit concerns. Muted expectations for Jan. 22 Chinese New Year. Israel Dec. polished exports -39% to $161M, rough imports -33% to $142M. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.32% 1.19% -7.64% 0.50 ct -0.26% -0.45% -11.12% 1.00 ct -0.46% -1.48% -11.18% 3.00 ct -0.28% -1.52% -3.29%

Market Reports   United States: Older inventory purchased at higher prices is proving difficult to move…   Belgium: Antwerp market quiet with dealers on New Year break…   Israel: Overall sentiment weak; many expect difficult few months ahead…   India: Stable orders for 0.30 to 0.99 ct., D-H, IF-VVS2, 3X diamonds…   Hong Kong: China focused on low-budget items containing smaller, cheaper stones…

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Last-Minute Rush Clinches Strong Holiday Season for Many Jewelers By Leah Meirovich After a slow start, independent retailers enjoyed respectable sales considering 2021's record totals. Read More

Our Most Popular Podcast Episodes of 2022 By Joshua Freedman Russia, the metaverse, the GIA and lab-grown diamonds were some of the topics that drew listeners last year. Read More

Advertorial: Bigger and Brighter JGT Dubai Awaits the Gold and Jewelry Community By Jewellery, Gem & Technology Dubai The international B2B sourcing event will return from February 12 to 14, 2023, at DWTC, with more exhibitors and the JWA Dubai Awards Presentation Ceremony. Read More

Press Release: Diamond Prices End Year with Decline Major dealers satisfied with holiday season but cautious about short-term prospects. See More Big Discounts Drive Rise in Online Holiday Sales Consumers spent $211.7 billion from November 1 to December 31, according to Adobe. See More Hong Kong Retail Sales Suffer Downturn in November Jewelry and other hard luxury registered first year-on-year decline since March. See More Jewelers Crime Alert Network Begins Pilot Phase Store owners will be able to receive texts about suspicious incidents in their area. See More GIA Rolls Out Its First Paperless Dossier Report Laboratory in Israel issued digital document on January 2. See More What's the Forecast for 2023? Industry insiders share their New Year predictions and plans. See More Sales to Jump at India's Large Gold Retailers – Survey Wedding and festive demand will increase this fiscal year, Crisil Ratings predicts. See More Luxury More Resilient Than During 2009 Crash – Bain Consultancy firm forecasts growth of up to 8% this year. See More Majority Owner of Bovet Watch Brand Buys Out Business Pascal Raffy acquires remaining 25% of company. See More Israel's Polished Exports See Fifth Decline in Six Months December shipments slumped 39% as global challenges continued. See More

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