Rapaport TradeWire December 7, 2023

December 7, 2023

Rapaport Market Comment - December 7, 2023 US market doing okay, with good demand for select sizes and qualities. Prices for better-quality round, 0.50 to 1 ct., F-I, VS2 to SI2+ goods stabilizing, with shortages of oversizes. RAPI for 1 ct. +0.8% in Nov., 0.50 ct. +1.2%. Overall market may be starting to bottom out due to reduced supply, but there is danger of future oversupply as India ends voluntary ban on rough imports on Dec. 15. G7 announces strengthening of Russian sanctions, which later in 2024 will include "Russian Source" diamonds cut elsewhere. Signet notes bridal recovery after 3Q sales -12% to $1.4B. Muted New York Magnificent Jewels auctions see totals of $38.4M at Sotheby's, $38.1M at Christie's. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.07% 0.72% -4.08% 0.50 ct 0.04% 0.87% -27.72% 1.00 ct -0.21% 0.37% -21.69% 3.00 ct -0.28% -0.30% -12.24%

Market Reports   United States: Memo dominating market, but some jewelers buying for inventory…   Belgium: Rough market quiet with Indian import pause still in effect through December 15…   Israel: Limited trading at bourse amid ongoing war…   India: Steady improvement across all diamond categories, with nice SIs selling to American market…   Hong Kong: Strong consumer attendance at Hong Kong Jewelry Manufacturers' Association (JMA) show, but focus was on lower price points…

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Diamond Prices See Modest Increase RAPI for 1-carat diamonds rose 0.8% in November. See More G7 to Restrict Imports of Russian Diamonds Starting January 1 By March, measures will encompass goods processed in third countries. See More De Beers Reduces Value of Rough Allocations Drop for 2024 reflects decline in prices, sources say. See More India to End Freeze on Rough Imports Industry leaders decide not to extend voluntary pause beyond December 15. See More Signet Sales Decline in Weak US Market Bridal demand slowed during third fiscal quarter, in line with predictions. See More 133ct. Yellow Diamond Shines at Sotheby's New York Auction also sees strong demand for collections from Hollywood legends Mary Tyler Moore, Barbara Sinatra and Tony Randall. See More Blue Diamond Nabs $5.5M at Christie's New York Sale Ring with cushion-cut, 3.49-carat, internally flawless stone leads Magnificent Jewels auction. See More De Beers' David Prager and Ryan Perry to Leave Miner also announces new organizational structure and executive committee. See More David Bouffard to Leave Signet and RJC Veteran executive will exit retailer on April 30, 2024. See More Jared Debuts Higher-Value Designer Jewelry Line Collection includes diamond pieces priced at up to $175,000. See More Rio Tinto Sees 'Exceptional' Colored-Diamond Tender Results Bidding was strong for 87 stones from company's Argyle and Diavik mines. See More

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