Rapaport TradeWire December 28, 2023

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RAPAPORT ® TRADEWIRE ®
December 28, 2023
 
Rapaport Market Comment - December 28, 2023

Diamond market slow with trading centers on end-of-year break. Mastercard reports US Nov.-Dec. holiday jewelry sales -2%, general retail +3.1%, e-commerce +6.3% and in-store +2.2%. Restaurant spending +7.8%, indicating shift from products to experiences. Manufacturers focusing on Chinese New Year (Feb. 10) and Valentine's Day (Feb. 14) but keeping production low to avoid oversupply. G7 members update sanctions on Russian diamonds: US removes "substantial transformation" loophole; Antwerp Diamond Office to vet all rough imports into European Union. Rapaport wishes everyone a happy, healthy, ‎prosperous and peaceful New Year.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct -0.13% 0.47% -4.50%
0.50 ct 0.63% 1.90% -26.05%
1.00 ct 0.54% 0.46% -20.70%
3.00 ct -0.08% -0.37% -11.41%
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Market Reports
United States: Industry reflecting on holiday season, which was slow but in line with expectations…    United States: Industry reflecting on holiday season, which was slow but in line with expectations…
Belgium: Diamond industry closed as dealers take vacation…    Belgium: Diamond industry closed as dealers take vacation…
Israel: Mood low due to ongoing war with Hamas…    Israel: Mood low due to ongoing war with Hamas…
India: Polished diamonds in short supply due to recent two-month pause on rough imports; fresh goods expected in mid-January…    India: Polished diamonds in short supply due to recent two-month pause on rough imports; fresh goods expected in mid-January…
Hong Kong: Trade looking ahead to Chinese New Year but uncertain about sales amid weak mainland diamond demand…    Hong Kong: Trade looking ahead to Chinese New Year but uncertain about sales amid weak mainland diamond demand…
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Podcast: The Year in Review

The team looks back at the stories and people that impacted the trade in 2023.

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Podcast: The Art of David Webb

In her book on the iconic jeweler, Ruth Peltason traces the extraordinary trajectory of his still-coveted creations in our cultural landscape.

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Apparel and restaurants performed well, Mastercard reports.
US Jewelry Sales Slip 2% During Holiday Season
Apparel and restaurants performed well, Mastercard reports.
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Executive order bans imports irrespective of where manufacturing took place.
US (Finally) Removes Origin Loophole for Russian Diamonds
Executive order bans imports irrespective of where manufacturing took place.
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What we know — and what we don't — about the timeline, scale and provisos of the long-awaited ban.
How EU Sanctions on Russian Diamonds May Work
What we know — and what we don't — about the timeline, scale and provisos of the long-awaited ban.
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Gem-Tech received three lab-grown stones fraudulently paired with GIA reports for naturals.
Italian Grading Lab Warns of Synthetic-Diamond Scam
Gem-Tech received three lab-grown stones fraudulently paired with GIA reports for naturals.
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Rapaport's
The Individuals Who Shaped the Diamond Industry in 2023
Rapaport's "People of the Year" reflect the broad range of challenges affecting the trade — and some of the solutions.
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News about De Beers dominates this year's list.
The 10 Most-Read Stories of 2023
News about De Beers dominates this year's list.
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Here are the rough and polished stones that made for a memorable year.
2023's Biggest, Most Valuable and Most Buzzworthy Diamonds
Here are the rough and polished stones that made for a memorable year.
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We said goodbye to 12 industry members in 2023, including inventors, organization heads, designers, retailers, journalists and diamond cutters.
In Memoriam: Rapaport Honors Those in the Trade We Lost This Year
We said goodbye to 12 industry members in 2023, including inventors, organization heads, designers, retailers, journalists and diamond cutters.
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Plus: reports of a scam in the Surat Special Economic Zone.
How Russian Diamonds End Up on Your Finger, and Other News
Plus: reports of a scam in the Surat Special Economic Zone.
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