Market preparing for Hong Kong show, with concerns that trade tensions and yuan devaluation will impact buying.

  • Chow Sang Sang warns China trade war could reduce future earnings, after 1H sales +19% to $1.2B, profit +54% to $77M.
  • Record-low rupee (INR 70.75/$1) creating concern in India.
  • Cutters shifting away from melee due to lower demand in India and China amid currency declines.
  • Steady demand for rough that yields under-the-carat GIA dossiers as cutters prepare for holiday season.
  • Alrosa 2Q sales +2% to $1.1B, profit +1% to $379M.
  • US market optimistic. Tiffany & Co. 2Q sales +12% to $1.1B, profit +26% to $145M. Signet 2Q sales +2% to $1.4B, loss of $31M vs. profit of $85M.


Far East demand improving as Chinese consumers seek pears and princesses at better prices. US and European demand mixed. Ovals and cushions are best sellers, followed by emeralds and pears. Marquises and princesses weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, pears and emeralds, with prices firming for 3 to 5 ct. due to shortages. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

United States

New York wholesale market relatively slow for smaller dealers. Larger suppliers expecting orders from retail chains. Others selling at low profit margins to raise liquidity and move inventory. Stable demand for 0.30 to 1 ct., G-J, VS-SI, RapSpec A3+. Jewelers optimistic for final four months of the year.


Trading quiet, as dealers not yet out of vacation mode. Caution about doing business in India due to bankruptcy rumors and liquidity concerns. Activity expected to improve as businesses prepare for Hong Kong Jewellery & Gem Fair, which begins September 12. Many traveling to the show to assess the Far East market amid US-China tensions. Rough trading steady ahead of next week’s De Beers sight.


Bourse quiet, but dealers upbeat about Hong Kong show. Weak demand for lower-quality small goods. Stable demand from watch industry for top-quality melee. Strong demand for 1 ct., G-J, VS-SIs, while 0.30 to 0.50 ct. slower than before August break. Rough market active during Alrosa auction in Ramat Gan, but manufacturers waiting to assess prices at De Beers sight (September 3 to 7).


Stable market, but dealers concerned about reduced bank credit, as well as currency devaluation after rupee hits record low (INR 70.75/$1). Strong demand for nice SIs. A lot of weak SIs available. Suppliers holding prices firm for certified goods. Manufacturing expected to remain steady until November Diwali break.

Hong Kong

Dealers focused on show preparations. Sentiment relatively weak in August due to trade tensions and yuan depreciation. Jewelers more cautious for 2H after positive first half. Dossiers selling well. 1 ct., D-H, VS1-SI improving. Rising interest in fancy-color diamonds ahead of September show.