Rapaport TradeWire February 8, 2024

February 8, 2024

Rapaport Market Comment - February 8, 2024 Polished sales slow. Round prices rising gradually, with Jan. RAPI for 1 ct. +0.8%, 0.50 ct. +2.4%. Fancy prices in downward trend. US buyers purchasing for immediate needs only. Shortages supporting prices of round, 0.30 ct., D-H, VS2-SI1 goods. Fresh diamonds starting to appear in market, as almost two months have passed since India's rough imports resumed. Rapaport urges industry to support Rapaport US Diamond Protocol at Rapaport.com/sanctions. Centurion and AGTA shows see strong attendance but lower sales than last year. Indian domestic demand strong; Titan 3Q sales +22% YOY to $1.7B. China slow as New Year holiday begins. Rapaport wishes everyone a successful Year of the Dragon. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.34% 0.14% -7.83% 0.50 ct 0.37% 1.98% -23.79% 1.00 ct 0.25% 0.68% -18.87% 3.00 ct 0.17% 0.35% -10.54%

Market Reports   United States: Shortages supporting market for round, 0.30 to 0.40 ct., F-I, VS-SI diamonds, with dealers struggling to replenish inventories…   Belgium: Strong interest in 1 to 3 ct. pinks, yellows and greens in intense and vivid colors…   Israel: Prices rising for round diamonds with no black center, making them hard to sell to American buyers…   India: Manufacturing still below capacity, leading to shortages of sought-after diamonds such as oversizes…   Hong Kong: Retail sector quiet; consumers have finished shopping for festival…

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Israel's Diamond Trade Is Stuck Between Two Crises By Joshua Freedman The global downturn is a bigger challenge for the market than the war is, says bourse president Boaz Moldawsky. Read More

Podcast: Russia, Sanctions and the Diamond Market Industry consultant Robert Wake-Walker analyzes what we know and what we don't about the G7 rules. Listen Here

Podcast: A Journey Through Ukrainian Jewelry Olga Oleksenko, founder of the Strong & Precious art foundation, discusses her native country's rich ornamental traditions and vibrant contemporary scene. Listen Here

Diamond Prices Rise, but Sales Slow 1-carat RAPI up 0.8% in January. See More De Beers Rough Prices Slip 6% in 2023 Oversupply in the midstream and lack of demand spur decrease. See More Lab Urges Caution over Surge in Undisclosed Colored Synthetics GSI has received jewelry containing pink, yellow and brown stones posing as naturals. See More GIA Helps in Recovery of Stolen Diamonds Worth Nearly $475K The stones, each more than 4 carats, were taken along with other jewelry from a home in Colorado. See More Rio Tinto Facing Charges over Safety at Diavik Miner will head to court after a "serious worker injury" occurred. See More De Beers Signs On to Help Develop Angola's Diamond Sector Miner will collaborate with Endiama and Sodiam to increase production and enhance social development. See More Robust Business for Vintage Jewels at Winter Show Signed items and René Lalique pieces were popular at the 70th edition of the annual art and antiques fair. See More RJC Board Approves Two Nominees for Chairman Former World Diamond Council head Edward Asscher and Richline CEO Dave Meleski are contenders for the role. See More Behind Celebrities' Diamond Veneers, and This Week's Other News Members of the editorial team pick their favorite pieces from the internet. See More

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