Rapaport TradeWire January 25, 2024

January 25, 2024

Rapaport Market Comment - January 25, 2024 Round prices stable. Fancies remain slow. US dealers show little appetite for rounds, with Indians firm on prices. Lack of supply supporting market, with shortages in select categories. De Beers rough-price drop has not affected polished prices. China weak ahead of Lunar New Year. Luk Fook 3Q sales +46% YOY amid strong gold demand; mainland diamond sales -25%. Diamantaires moving Hong Kong salespeople back to India. GJEPC seeks decrease in India's import duty on polished diamonds to 2.5% from 5% to ease flow of goods from Botswana factories. Steady traffic at Vicenzaoro show; demonstrators protest presence of Israeli exhibitors. JVC elects Rebecca Foerster board chairman. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.34% 0.40% -7.31% 0.50 ct 0.19% 3.14% -24.41% 1.00 ct 0.10% 0.65% -20.00% 3.00 ct -0.28% -0.01% -11.02%

Market Reports   United States: Some demand for round, 0.30 to 0.50 ct., D-G, VS2, RapSpec A3+ diamonds…   Belgium: Difficult to replenish inventory due to lack of supply…   Israel: Israelis unwilling to buy rounds at Indian sellers' firm prices…   India: Traders seeking cash payment rather than selling on terms…   Hong Kong: Suppliers starting holiday vacations early…

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Podcast: Handling the Hope Diamond Dr. Jeffrey Post, long-standing curator at the Smithsonian, shares his stories about some of the world's most famous gemstones. Listen Here

Rapaport Magazine Spotlights the Vibrant Colored-Gem Market As the industry heads to Tucson, Arizona, our latest magazine takes a deep dive into the hottest issues in the gemstone sector Read More

US Retail Restocking Is Going Slowly – but Don't Despair By Joshua Freedman Jewelers and dealers are waiting for final holiday results before replenishing inventories. Read More

Rio Tinto Workers Killed en Route to Diavik Diamond Mine Small plane transporting employees crashed shortly after takeoff. See More Watches of Switzerland Slashes Full-Year Forecast as Demand Slows Holiday period saw UK shoppers opt for other categories instead, retailer notes. See More Rising Gold Prices and Tourism Drive Luk Fook Jewelry Sales Revenue from products containing the yellow metal up 80% year on year in third quarter. See More India Trade Seeks Tax Reduction on Polished Diamonds, Gold Lower rate would help establish country as trading hub, GJEPC says. See More Luxury Timepieces Spur Strong Sales at Birks Jeweler also benefited from renovated stores and increased online engagement. See More Small Stones Dent Mountain Province Sales Average price down 20% for 2023. See More An Ancient Greek Temple Filled with 2,700-Year-Old Jewelry, and This Week's Other News Members of the editorial team pick their favorite pieces from the internet. See More Michael Hill Closes Stores, Lays Off Workers Despite Sales Growth Acquisition of Bevilles chain kept company in the black during first half. See More Former Alrosa Executive Takes Helm at JVC Rebecca Foerster will serve as chairman of the board until 2026. See More Diamonds Do Good Reveals New Board Kathy Corey, former owner of Day's Jewelers, will serve two-year term as organization's president. See More

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