Rapaport TradeWire September 14, 2023

September 14, 2023

Rapaport Market Comment - September 14, 2023 NOTICE: RAPAPORT URGES TRADE TO REJECT WORLD DIAMOND COUNCIL "WDC G7 PROTOCOL," WHICH WILL DESTROY SMALL BUSINESSES. ASKS TRADE TO RESIGN FROM WDC AND JOIN EFFORTS FOR ALTERNATIVE PROPOSAL WITH US GOVERNMENT. Further Russian sanctions creating concern. De Beers abandons Lightbox engagement rings, citing lack of long-term prospects and brings back "A Diamond Is Forever" in $20M natural-diamond campaign. Polished prices fall, with deep concerns for 4Q as US inflation rose to 3.7% in August. LVMH-owned Fred launches high jewelry with blue lab-grown and white natural diamonds. Low expectations for HK show. Best wishes to all for a happy, healthy, prosperous and peaceful Jewish New Year. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -1.04% -5.29% -4.94% 0.50 ct -1.04% -8.93% -30.15% 1.00 ct -1.41% -5.76% -25.70% 3.00 ct -1.17% -2.45% -14.82%

Market Reports   United States: Fancy shapes continue to outperform rounds…   Belgium: Buyer's market as demand and prices fall…   Israel: Dealers waiting until after the Jewish holidays to make deals…   India: Manufacturers keeping polished production below 50% of capacity and offering heavy discounts to clear inventory and improve liquidity…   Hong Kong: Price will be key factor at Jewellery & Gem World Hong Kong show, with exhibitors expecting buyers to request significant discounts…

View Full Report

Podcast: Spotlight on Sustainability A sneak peek at our upcoming supplement on ethics, transparency and traceability. Listen Here

The Weekly Gems: News and Videos from Around the Web Featuring an unusual proposal venue, exciting discoveries, and a hurricane. Read More

The Artistry of Chanel By Phyllis Schiller Coco's craft: A new book plumbs the creative processes behind the brand's iconic high-jewelry designs. Read More

"> De Beers Ends Lab-Grown Engagement-Ring Test Miner brings back "A Diamond Is Forever" tagline. See More Belgian Manufacturer HB Splits from Cofounder Oded Mansori is no longer managing partner; legal proceedings underway. See More Paris-Based Jeweler Fred Launches Blue Lab-Grown Diamonds Limited-edition collection features mixture of synthetic and natural stones. See More NY Diamond Dealers Charged with Moving Money Illegally Five defendants used businesses as front to transfer more than $600 million since 2019, says US Department of Justice. See More Deloitte Gives Upbeat Holiday Forecast US retail sales will rise by 4% to 5%, professional-services group predicts. See More Alrosa Finds Russia's Largest Diamond in a Decade Company unearths 391-carat rough at Mayat mine in Yakutia. See More De Beers Hopes to Avoid Strike with Five-Year Deal South Africa's National Union of Mineworkers has been planning industrial action at Venetia deposit. See More Holiday Sales Growth Will Be Weakest in Years, Bain Predicts US revenue for November-December period expected to rise 1%, well below average for past decade. See More Over 200 Pieces of Royal Jewelry to Hit Block at Sotheby's Gems linked to Austrian Habsburg dynasty make first appearance in nearly a century. See More Sotheby's New York Sale Nabs $13M More than half of sold items beat their high estimates. See More Nissim Zuaretz Gets Another Term as ISDMA President Manufacturers' association reelects DN Diamonds founder for three years. See More

CONTACT US

© Copyright 2023 by Rapaport USA Inc. All Rights Reserved. Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.

Rapaport USA 133 East Warm Springs Road Suite 100 Las Vegas Nevada 89119 USA You received this email because you are subscribed to Rapaport TradeWire® from Rapaport USA. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails