Rapaport TradeWire January 4, 2024

January 4, 2024

Rapaport Market Comment - January 4, 2024 Happy New Year! Holiday season looks okay. Diamond trade ended challenging 2023 with 0.50 ct. RAPI -26%, 1 ct. -21%, 3 ct. -11%. Round prices stabilized in Dec. Mixed trend in fancies. Chinese retail slow ahead of Feb. 10 Lunar New Year. All eyes on De Beers Jan. 15 sight, as price changes could shake market. Labs report synthetic diamonds bearing forged GIA inscriptions. EU to implement sanctions on Russian diamonds, with Belgium trying to control market. No import regulations issued, and industry uncertain how rules will impact supply and costs. Rapaport warns trade to protect US market and will launch Rapaport US Diamond Protocol next week to restrict import of sanctioned diamonds. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.36% 1.09% -4.32% 0.50 ct 0.87% 2.80% -25.34% 1.00 ct -0.01% 0.59% -20.33% 3.00 ct -0.05% -0.38% -11.18%

Market Reports   United States: Christmas season saw steady demand for round, 1 to 2 ct., G-I, VS2-SI1 diamonds…   Belgium: Bourses to resume regular activity Monday, January 8…   Israel: Trading minimal, as overseas customers are on vacation…   India: Higher-clarity melee has cooled following drop in overseas activity…   Hong Kong: Jewelers looking for ways to attract younger, local customers…

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Five Diamond-Industry Developments to Watch This Year By Leah Meirovich The ongoing Russian-sanctions saga and two big deals for Botswana are among the hot topics for 2024. Read More

A Good Holiday for Gold Hoops, and Other Jewelry Trends By Leah Meirovich Discussions on Facebook group Jewelers Helping Jewelers point to a decent season for the trade. Read More

Diamond Barons on Private Jets, and This Week's Other News Members of the editorial team pick their favorite pieces from the internet. Read More

Diamond Trade Cautious at End of Year 1-carat RAPI up 0.1% in December but down 21% in 2023. See More IGI Discovers 6ct. Lab-Grown Diamond Posing as Natural Pear-shaped stone bears forged GIA inscription. See More EU Extends Sanctions to Alrosa and Its CEO Measures call for freeze of assets and ban on access to funds. See More Hong Kong Busts $64M Diamond Scam Money-laundering syndicate exported low-value synthetics to India but declared them as high-value naturals. See More De Beers Unveils 2024 Sight Dates Miner will hold 10 sales during the year. See More Tourism Recovery Spurs Rebound in Hong Kong Luxury Sales Revenue from jewelry, watches, clocks and valuable gifts up 61% year on year in November. See More

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