Rapaport TradeWire November 2, 2023

November 2, 2023

Rapaport Market Comment - November 2, 2023 Rapaport calls for help and support for US Diamond Protocol as World Diamond Council (WDC) and De Beers lobbyists push for sanctions plan that will destroy small US jewelers and dealers. Visit rapaport.com/sanctions for facts and support. Martin Rapaport will fast for three days next week — Tues.-Thurs., Nov. 7-9 — to protest WDC's support for Kimberley Process that certifies Russian diamonds. Trade is urged to fast for one day, Tuesday, Nov. 7, as WDC and KP meet in Zimbabwe. Prices of rounds stabilizing; 1 ct. RAPI +0.3% this week but -2.2% for Oct. Fancies still falling. Surat factories to close for three weeks over Nov. 12 Diwali holiday. NY DDC to hold Israel trade week Nov. 27-30. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.01% -1.68% -4.93% 0.50 ct 0.83% -1.17% -29.97% 1.00 ct 0.32% -1.91% -24.84% 3.00 ct 0.43% -0.44% -13.99%

Market Reports   United States: Steady demand for 3 ct. and larger, D-K, VS2-SI1, 3X diamonds without milkiness or black center…   Belgium: Some movement in 2 ct. rounds, but sales still few and far between…   Israel: Shipments limited due to reduction in flights…   India: Import moratorium and pre-holiday demand offering some relief to industry…   Hong Kong: Industry focusing on 11/11 shopping festival…

View Full Report

Podcast: Why the Chinese Market Is Slow Lab-grown diamonds are making inroads, says dealer and consultant Chen Shen. Read More

The Ins and Outs of Diamond Screening Technology for detecting synthetics is constantly improving. In this LinkedIn Live, Rapaport News Editor Joshua Freedman will discuss the latest trends with De Beers Group Ignite's Danie Kruger and Samantha Sibley. Read More

Eco-Friendly Is the Mother of Invention for Diamond and Jewelry Companies By Kate Matthams Climate of innovation: Miners, manufacturers and brands are taking creative steps to help save the planet. Read More

Russia Attacks West for 'Distorting' Kimberley Process G7 nations have politicized the organization, open letter claims ahead of plenary meeting. See More EU Confirms It Plans to Sanction Russian Diamonds Bloc working on 12th package of punitive measures since Ukraine war began. See More Stornoway Halts Operations at Renard Diamond Mine Company seeking creditor protection as weak market impacts business. See More The Weekly Gems: News and Videos from Around the Web The latest roundup includes a call for solidarity with Israel, and jewelers' unusual confessions. See More Hong Kong Luxury Sales Benefit from Rebound in Tourism Revenue for jewelry up 27% year on year in September. See More Petra Postpones Spending Amid Market Slowdown Miner defers expansion projects at Cullinan and Finsch. See More Gem Diamonds Sales Slip in Weak Market Revenue down 45% year on year in third quarter. See More Lucapa Digs Up 208ct. Rough from Lulo Diamond is third-largest recovered from Angola site. See More Letšeng Yields 117ct. Rough for Gem Diamonds Stone is fourth over 100 carats from Lesotho mine this year. See More Tiffany Unveils Polished from Canada's Largest Yellow Rough Jeweler turned 71.26-carat stone into 15- and 20-carat diamonds. See More WD Lab Grown Diamonds Changes Name and Focus WD Advanced Materials will create synthetics for technical applications. See More IDE and DDC to Host 'Stand with Israel' Sale in New York Event will allow US diamond dealers to show support while promoting business. 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