{"id":24177,"date":"2024-01-03T13:31:03","date_gmt":"2024-01-03T08:01:03","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=24177"},"modified":"2024-01-03T13:32:21","modified_gmt":"2024-01-03T08:02:21","slug":"rapaport-diamond-trade-cautious-at-end-of-year","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-diamond-trade-cautious-at-end-of-year\/","title":{"rendered":"Rapaport: Diamond Trade Cautious At End Of Year"},"content":{"rendered":"

Diamond trading was quiet in late December as wholesalers took vacation between Christmas and New Year, Rapaport said in a release. The industry was cautious due to sluggish US consumer demand and competition from synthetics.<\/p>\n

The holiday season for the overall jewellery market was weaker than in 2022 but in line with expectations. US jewellery sales fell 2% year-on-year for the period between 1st<\/sup> November and 24th<\/sup> December, Mastercard SpendingPulse reported. Restaurant revenues rose 7.8%, indicating a shift from products to experiences. Chinese diamond demand remained slow amid an economic slump.<\/p>\n

Polished prices rose in most categories as India\u2019s two-month voluntary freeze on rough imports \u2014 which ended 15th<\/sup> December \u2014 reduced inventories. India\u2019s rough imports for November slid 76% year-on-year to $314 million. Manufacturers were under less pressure to sell, since they needed less cash to buy rough, Rapaport noted. Holiday orders supported prices for 1- to 3-carat, F-I, VS-SI, RapSpec A3+ diamonds.<\/p>\n

RapNet Diamond Index (RAPI\u2122<\/sup>)<\/strong><\/p>\n\n\n\n\n\n\n\n
\u00a0 <\/strong><\/td>\nIndex <\/strong><\/td>\nDecember <\/strong><\/td>\n4Q 2023 <\/strong><\/td>\n2023 <\/strong><\/td>\n<\/tr>\n
RAPI 0.30 ct. <\/strong><\/td>\n1,418<\/td>\n1.0%<\/td>\n-0.3%<\/td>\n-4.3%<\/td>\n<\/tr>\n
RAPI 0.50 ct. <\/strong><\/td>\n1,980<\/td>\n2.2%<\/td>\n2.1%<\/td>\n-25.9%<\/td>\n<\/tr>\n
RAPI 1 ct. <\/strong><\/td>\n5,981<\/td>\n0.1%<\/td>\n-1.4%<\/td>\n-20.6%<\/td>\n<\/tr>\n
RAPI 3 ct. <\/strong><\/td>\n22,021<\/td>\n-0.4%<\/td>\n-0.7%<\/td>\n-11.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a9 Copyright 2024 by Rapaport USA Inc.<\/em><\/p>\n

The RapNet Diamond Index (RAPI\u2122) for 1-carat diamonds rose 0.1% in December. The index for 0.30-carat stones increased 1%, and the 0.50-carat RAPI climbed 2.2%. Prices for fancy shapes were stable or declined.<\/p>\n

The 0.50- and 1-carat RAPI categories had their worst full year on record, falling 26% and 21% respectively. However, the trend improved from November onward as US retailers bought for the holidays and Indian factories lowered polished production. The number of diamonds on RapNet fell 8% during 2023, totalling 1.6 million on 1st<\/sup> January, 2024.<\/p>\n

Some sightholders expect De Beers to reduce rough prices in January to stimulate sales. This could have an immediate impact on polished prices. To avoid an oversupply, manufacturers must ensure that their purchases match polished demand, Rapaport explained.<\/p>\n

January also marks the introduction of broader Group of Seven (G7) restrictions on Russian diamonds. An expanded ban on any polished resulting from Russian rough begins 1st<\/sup> March. The implementation could profoundly affect supply dynamics, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Diamond trading was quiet in late December as wholesalers took vacation between Christmas and New Year, Rapaport said in a release. The industry was cautious due to sluggish US consumer demand and competition from synthetics. The holiday season for the overall jewellery market was weaker than in 2022 but in line with expectations. US jewellery…<\/p>\n","protected":false},"author":1,"featured_media":24178,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-24177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\nRapaport: Diamond Trade Cautious At End Of Year - 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-trade-cautious-at-end-of-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport: Diamond Trade Cautious At End Of Year - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Diamond trading was quiet in late December as wholesalers took vacation between Christmas and New Year, Rapaport said in a release. 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