This Week’s Diamond News
- Diamond trading slow over Jewish New Year, but prices stable.
- Rough prices still too high, driven by speculation, preventing polishers to generate profits.
- American market steady ahead of the November presidential elections. Dealers cautious as trading slow for this time of year. Presidential election adding to uncertainty. Inventory rising with new Indian supply outpacing sales before Diwali break (Oct. 30). Steady demand for 0.70 to 2 ct., G-J, SI diamonds. High-end D-H, IF-VS2 slower. Retail jewelers wary after very slow summer sales.
- Steady demand for nice made rounds and fancy shapes in VS and SI quality.
- Gems in 5ct and 10 ct D Flawless in demand.
- Large nice made fancy shapes, in commercial quality, H to J colors and VS2 to Si2 purity,
demanded by buyers from the Middle East. - De Beers decides to offer tailored sight boxes to Sightholders. Traditionally, De Beers has separated it’s production into standard assortments, and while that continues, it is also working with certain privileged clients to create tailored mixes. How these privileged clients are selected, is not known.
- Chinese market improves slightly in September. Gold and Jewelry sales are up by +11% compared to last year.
- Alrosa monthly rough sales rise to 435m$ in September, amid strong demand for Russian rough diamonds in the cutting centers. Alrosa polished diamond sales stood at 18.9 m$.
“More information is always better than less. When people know the reason things are happening, be it good or bad news, they can adjust their expectations and react accordingly.”
Sylvain Goldberg – on this week’s diamond news
