Rapaport TradeWire December 28, 2023

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. Watch Video

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%

Market Reports   United States: Industry reflecting on holiday season, which was slow but in line with expectations…   Belgium: Diamond industry closed as dealers take vacation…   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…   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. Listen Here

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. Listen Here

US Jewelry Sales Slip 2% During Holiday Season Apparel and restaurants performed well, Mastercard reports. See More US (Finally) Removes Origin Loophole for Russian Diamonds Executive order bans imports irrespective of where manufacturing took place. See More 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. See More Italian Grading Lab Warns of Synthetic-Diamond Scam Gem-Tech received three lab-grown stones fraudulently paired with GIA reports for naturals. See More 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. See More The 10 Most-Read Stories of 2023 News about De Beers dominates this year's list. See More 2023's Biggest, Most Valuable and Most Buzzworthy Diamonds Here are the rough and polished stones that made for a memorable year. See More 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. See More How Russian Diamonds End Up on Your Finger, and Other News Plus: reports of a scam in the Surat Special Economic Zone. See More

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