Rapaport TradeWire January 11, 2024

January 11, 2024

Rapaport Market Comment - January 11, 2024 Round prices stabilizing but discounts still deep. Fancy-shape prices mixed. Rough market for smaller sizes heating up as India import freeze has caused shortages. Sightholders expect lower prices at next week's sight, since De Beers rough is expensive. Celebrities show off natural diamonds at Golden Globes. Solid trading at India's IIJS Signature show amid positive outlook for rest of wedding season. Titan 3Q jewelry sales +23% as consumers bought gold despite high prices; diamond jewelry less strong. GIA launches same-day verification to combat rise in fraud. Debswana board approves $1B investment in Jwaneng underground expansion. Bruce Cleaver steps down as De Beers cochair. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.24% 1.43% -4.89% 0.50 ct 0.79% 3.50% -24.85% 1.00 ct 0.41% 0.92% -19.97% 3.00 ct 0.08% 0.17% -11.10%

Market Reports   United States: Retailers and dealers assessing 1Q inventory needs and preparing for Valentine's Day…   Belgium: Recent festive period was mediocre, with US and European markets showing mixed results…   Israel: Rounds doing okay, with melee firm…   India: Trading stable but export demand weak, with shortages of better-quality goods supporting market…   Hong Kong: Slow economy dampening interest in 2 ct. and larger stones…

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Podcast: Jewelry, Insurance and the Holidays Appraisals need fixing, says Dustin Lemick of BriteCo. Listen Here

Indian Wedding Demand Boosts Mood at IIJS Signature Show By David Brough Surging gold price has impacted sales in recent months. Read More

GIA Takes Steps to Counter Fraudulent Inscriptions on Lab-Grown Institute will offer same-day report verification to confirm a diamond matches its inscription. See More Debswana Gets Approval for $1B Jwaneng Expansion Phase Current stage will help facilitate kimberlite sampling and develop infrastructure for underground project. See More Diamond Jewels Sparkled on the 2024 Golden Globes Red Carpet Statement necklaces and big earrings were the dominant theme, with pieces by Cartier, Bulgari and De Beers standing out. See More Steep Discounts Buoy Online Holiday Sales Electronics, toys and apparel were top-selling categories, Adobe Analytics reports. See More Bruce Cleaver Steps Down from De Beers Boards Former CEO will stay on in advisory capacity after helping miner with transition phase. See More DMIA Opens Diamond-Screening Lab New York location will house five verification machines, which members can use for free. See More Sarine, GCAL Launch Surat Grading Lab Following Merger Location is combined entity's first in India. See More Strong Lab-Grown and Holiday Sales Push Pandora Past Guidance Revenue from synthetic diamonds up 83% year on year in fourth quarter. See More Frédéric Arnault to Head LVMH Watch Division Son of conglomerate's owner was previously CEO of TAG Heuer. See More International Expansion Drives Sales at India's Titan Revenue up 22% year on year in third quarter amid store openings in US, Singapore and Dubai. See More Renowned Gem Cutter Tom Munsteiner Dies Owner of Atelier Munsteiner in Stipshausen, Germany, was the fourth generation of his family in the industry. See More Letšeng Yields 295ct. Rough for Gem Diamonds Diamond found at Lesotho mine is first over 100 carats this year. See More Hindman to Merge with Freeman's Auction House The combined company will have six salerooms and 18 regional offices in the US, with plans to expand internationally. See More Lucara Digs Up 166ct. Rough from Karowe Type IIa diamond was found at mine's high-value M/PK(S) unit in the south lobe. See More

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