Las Vegas shows open with optimistic outlook for US market. Dealer trading and prices stable. Savvy suppliers see the show as networking and branding opportunity. De Beers launches low-priced synthetic jewelry collection aiming to differentiate lab-grown from natural diamonds. Signet joins De Beers Tracr blockchain, while GIA and Chow Tai Fook partner on different blockchain initiative. Christie’s HK sells $72M (64% by lot), with pear, 8.01 ct. fancy vivid blue diamond necklace fetching $20.4M ($2.5M/ct.). New Sierra Leone Minister of Mines Dr. Morie Manyeh to address Rapaport Breakfast at JCK Vegas on Sunday from 8 a.m. Presentation will be broadcast live on Rapaport Facebook. Martin Rapaport publishes “Trump Trade Policy” article.
Fancies: Fancy shapes mixed, with curves better than squares. Ovals hot, followed by Pears and Cushions. Marquises and Princesses weak. Oversizes selling well. Steady demand for fine-quality 6-10 ct. Ovals, Pears and Emeralds, with limited supply. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Industry focused on Las Vegas shows. Positive sentiment after consumer confidence rebounds in May, according to The Conference Board. Good demand for 1 ct., G-J, SI-I2 diamonds. Platinum Guild sees strong bridal segment.
Belgium: Polished trading stable. Buyers focused on finding bargains, but suppliers holding prices firm, awaiting Vegas show indications. Solid demand for 0.30 to 1 ct., D-H, VS-SI diamonds. Melee market weaker. Shortage of nice SIs. Rough sector steady, with mid-single-digit premiums on secondary market.
Israel: Local activity slow, as many dealers have gone to Las Vegas. Suppliers looking to assess market conditions at the show in order to prepare inventory effectively for second half of the year. Stock levels below 2017’s due to better sales and less supply. Good demand for nice SIs, which are difficult to source. Rough trading stable.
India: Mumbai trading quiet, with many dealers traveling to Las Vegas shows and some still on summer vacation. Very few foreign buyers in the market. Volatile rupee-to-dollar exchange rate fueling caution among local dealers. Liquidity tight amid continued bank restraint following Nirav Modi fraud.
Hong Kong: Polished activity seeing seasonal lull. Steady demand for 0.30 ct. to 1.99 ct., H-J, VS1-SI2 RapSpec A2+ diamonds. Rising interest in fancy shapes, as consumers seek out lower price points. Retail sales get boost from positive local consumer sentiment and return of Chinese tourists.