{"id":22713,"date":"2023-09-06T14:54:29","date_gmt":"2023-09-06T09:24:29","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=22713"},"modified":"2023-09-06T14:56:29","modified_gmt":"2023-09-06T09:26:29","slug":"rapaport-diamond-prices-continue-to-fall","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-diamond-prices-continue-to-fall\/","title":{"rendered":"Rapaport: Diamond Prices Continue to Fall"},"content":{"rendered":"

The diamond market weakened in August as economic challenges persisted and synthetics expanded their market share, Rapaport said in a press release. The likelihood that G7 governments would soon impose stricter source-disclosure rules to sideline Russian goods also created uncertainty.<\/p>\n

The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds fell 4.7% in August. The 0.30-carat RAPI also dropped 4.7%. Both of these were the worst performances since the peak of the Covid-19 crisis in April 2020.<\/p>\n

The index for 0.50-carat stones slumped 8.6% \u2014 the sharpest drop for any month since RAPI records began in 2005 \u2014 and 3-carat diamonds slipped 2.1%.<\/p>\n

The market was even tougher for stones with lower colours and clarities than the RAPI tracks. Prices for 1-carat, D-L, IF-SI2 items on RapNet fell 5.7%.<\/p>\n\n\n\n\n\n\n\n\n
RapNet Diamond Index (RAPI\u2122<\/sup>)<\/strong><\/td>\n<\/tr>\n
<\/td>\nIndex<\/strong><\/td>\nAugust<\/strong><\/td>\nYear to Date
\nJan. 1, 2023, to Sep. 1, 2023<\/strong><\/td>\n		Year on Year
\nSep. 1, 2022, to Sep. 1, 2023<\/strong><\/td>\n<\/tr>\n
RAPI 0.30 ct.<\/td>\n1,475<\/td>\n-4.7%<\/td>\n-0.5%<\/td>\n-3.1%<\/td>\n<\/tr>\n
RAPI 0.50 ct.<\/td>\n2,088<\/td>\n-8.6%<\/td>\n-21.8%<\/td>\n-28.4%<\/td>\n<\/tr>\n
RAPI 1 ct.<\/td>\n6,403<\/td>\n-4.7%<\/td>\n-15.0%<\/td>\n-24.8%<\/td>\n<\/tr>\n
RAPI 3 ct.<\/td>\n22,749<\/td>\n-2.1%<\/td>\n-8.4%<\/td>\n-14.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a9 Copyright 2023, Rapaport USA Inc. <\/em><\/p>\n

The declines reflected weak retail sales in the US and China as well as competition from lab-grown stones, Rapaport noted. The industry is approaching the holidays with apprehension.<\/p>\n

Rounds lost value at a sharper rate than fancies. Fancy shapes usually trade at a discount to rounds, but as of this publication, the Pears Price List matched rounds in seven categories. The market for square cushions cooled as production increased and demand slid.<\/p>\n

Indian manufacturers kept polished production at around 40% to 50% of capacity. Submissions to the Gemological Institute of America (GIA) declined, prompting the laboratory to lay off about 20% of the workers at its headquarters in Carlsbad, California, Rapaport said.<\/p>\n

Rough supply fell in accordance with weak polished demand. De Beers\u2019 August sales slid 42% year on year to $370 million. Okavango Diamond Company brought in $48.5 million for the same month, a 55% decline from July.<\/p>\n

Both retail and wholesale in China remained slow as the country\u2019s economy weakened. Exhibitors at the upcoming Jewellery & Gem World Hong Kong show expect relatively subdued trading. India\u2019s domestic jewellery market boosted sales of polished under 1 carat as the wedding season began.<\/p>\n","protected":false},"excerpt":{"rendered":"

The diamond market weakened in August as economic challenges persisted and synthetics expanded their market share, Rapaport said in a press release. The likelihood that G7 governments would soon impose stricter source-disclosure rules to sideline Russian goods also created uncertainty. The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds fell 4.7% in August. The 0.30-carat RAPI…<\/p>\n","protected":false},"author":1,"featured_media":22716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-22713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nRapaport: Diamond Prices Continue to Fall - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" 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-continue-to-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport: Diamond Prices Continue to Fall - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The diamond market weakened in August as economic challenges persisted and synthetics expanded their market share, Rapaport said in a press release. The likelihood that G7 governments would soon impose stricter source-disclosure rules to sideline Russian goods also created uncertainty. The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds fell 4.7% in August. 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