{"id":16108,"date":"2022-07-06T11:30:44","date_gmt":"2022-07-06T06:00:44","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=16108"},"modified":"2022-07-06T11:40:33","modified_gmt":"2022-07-06T06:10:33","slug":"rapaport-diamond-prices-slide-amid-economic-uncertainty","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-diamond-prices-slide-amid-economic-uncertainty\/","title":{"rendered":"Rapaport: Diamond Prices Slide Amid Economic Uncertainty"},"content":{"rendered":"\n

Diamond market sentiment received a boost from the Las Vegas shows, which demonstrated robust US demand, Rapaport Group said in a release. However, polished prices declined amid a weak global economic outlook and a rise in inventory levels, it noted. <\/p>\n\n\n\n

The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds slid 1.8% in June but increased 7.4% between the beginning of the year and 1st<\/sup> July.<\/p>\n\n\n\n

RapNet Diamond Index (RAPI\u2122)<\/strong><\/td><\/tr>
<\/td>June<\/strong><\/td>1H 2022<\/strong><\/td>Year on year
<\/strong>July 1, 2021, to July 1 2022<\/td><\/tr>
RAPI 0.30 ct.<\/td>-1.0%<\/td>0.2%<\/td>-1.6%<\/td><\/tr>
RAPI 0.50 ct.<\/td>-1.6%<\/td>4.1%<\/td>5.0%<\/td><\/tr>
RAPI 1 ct.<\/strong><\/td>-1.8%<\/strong><\/td>7.4%<\/strong><\/td>16.8%<\/strong><\/td><\/tr>
RAPI 3 ct.<\/td>-0.8%<\/td>9.7%<\/td>22.2%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\n

\u00a9 Copyright 2022 by Rapaport USA Inc.<\/em><\/p>\n<\/div><\/div>\n\n\n\n

<\/p>\n\n\n\n

  • \"\"<\/figure><\/li><\/ul><\/figure>\n\n\n\n

    Rapaport said trading in Las Vegas reflected jewellers\u2019 strong liquidity after a profitable 2021. Activity slowed once the fairs ended and dealers headed for vacations at the beginning of July.<\/p>\n\n\n\n

    There were also renewed fears of a recession; the US economy shrank 1.6% in the first quarter, and the latest data showed inflation at 8.5% in May. Consumer confidence dropped 4.5 points in June to its lowest level since February 2021, according to The Conference Board.<\/p>\n\n\n\n

    Chinese demand was low as well following Covid-19 lockdowns in April and May. The lack of buyers meant local jewellers had sufficient inventory for the short term.<\/p>\n\n\n\n

    Polished inventory in the midstream grew in June, Rapaport noted. The number of diamonds listed on RapNet rose 4.3% during the month to 1.87 million as of 1st<\/sup> July. The high volume came despite the Russian sanctions that limited Alrosa\u2019s rough sales and took an estimated 30% of global production off the market. Russian rough shortages are expected to impact polished supply in the coming months; manufacturers have so far been working with goods from before Russia\u2019s invasion of Ukraine.<\/p>\n\n\n\n

    Other miners are capitalising on the new rough-market dynamic. De Beers\u2019 June sales rose 36% year on year to $650 million after a price hike of 8-10% on smaller rough \u2014 a category Alrosa usually dominates.<\/p>\n\n\n\n

    We predict that traceable, ethical diamonds will sell at a premium to Russian diamonds as Alrosa goods re-enter the market. While US jewellers are upbeat after the shows, there are political and economic headwinds that will likely disrupt the industry in the second half.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Diamond market sentiment received a boost from the Las Vegas shows, which demonstrated robust US demand, Rapaport Group said in a release. However, polished prices declined amid a weak global economic outlook and a rise in inventory levels, it noted. The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds slid 1.8% in June but increased 7.4%…<\/p>\n","protected":false},"author":1,"featured_media":16110,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-16108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nRapaport: Diamond Prices Slide Amid Economic Uncertainty - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/rapaport-diamond-prices-slide-amid-economic-uncertainty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport: Diamond Prices Slide Amid Economic Uncertainty - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Diamond market sentiment received a boost from the Las Vegas shows, which demonstrated robust US demand, Rapaport Group said in a release. 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