{"id":6006,"date":"2020-11-04T16:18:59","date_gmt":"2020-11-04T10:48:59","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=6006"},"modified":"2021-03-24T16:20:35","modified_gmt":"2021-03-24T10:50:35","slug":"rapaport-diamond-market-cautious-on-us-election-uncertainty-covid-resurgence","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/rapaport-diamond-market-cautious-on-us-election-uncertainty-covid-resurgence\/","title":{"rendered":"Rapaport: Diamond Market Cautious On US Election Uncertainty, Covid Resurgence"},"content":{"rendered":"\n<p>The diamond market continued to improve in October as holiday orders picked up, according to a Rapaport press release. Supply shortages helped buoy prices of 1 carat and larger stones. However, the positive sentiment of the previous month weakened due to a rise in global Covid-19 cases and uncertainty surrounding the US election.<\/p>\n\n\n\n<p>The RapNet Diamond Index (RAPI\u2122) for 1-carat polished diamonds rose 1% in October and was up 2.9% from the beginning of the year.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>RapNet Diamond Index (RAPI\u2122)<\/strong><\/td><\/tr><tr><td><\/td><td><strong>October<\/strong><\/td><td><strong>Year to date<\/strong><br>Jan. 1 to Nov. 1<\/td><td><strong>Year on year<\/strong><br>Nov. 1, 2019, to Nov. 1 2020<\/td><\/tr><tr><td>RAPI 0.30 ct.<\/td><td>-2.3%<\/td><td>2.8%<\/td><td>10.7%<\/td><\/tr><tr><td>RAPI 0.50 ct.<\/td><td>-0.5%<\/td><td>14.2%<\/td><td>17.7%<\/td><\/tr><tr><td>RAPI 1 ct.<\/td><td>1.0%<\/td><td>2.9%<\/td><td>3.0%<\/td><\/tr><tr><td>RAPI 3 ct.<\/td><td>1.8%<\/td><td>-1.3%<\/td><td>-1.1%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u00a9 Copyright 2020, Rapaport USA Inc.<\/p>\n\n\n\n<p>The RAPI index stabilised toward the end of the month as more goods became available and because prices had increased substantially since the start of the pandemic. Buyers shifted to lower-colour diamonds (I to L), which had seen less of a price hike than D to H. This was particularly true for 0.30 to 0.50 carat.&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<\/p>\n\n\n\n<p>Manufacturers raised polished production after the Indian government eased its Covid-19 restrictions. Larger factories are operating at an estimated 70% to 90% of capacity. Cutters are planning a shorter vacation than usual over Diwali \u2014 which begins 14th November \u2014 as they work to meet holiday demand and make up for time lost during the lockdown.<\/p>\n\n\n\n<p>Rough buying increased in the third quarter and continued climbing at a slower pace during October. De Beers sales for the quarter rose an estimated 10% year-on-year to $917 million, with the September sight up 57%.<\/p>\n\n\n\n<p>The mining companies are still expressing caution and will likely adopt a more measured approach once holiday orders have been filled and the polished supply balance has been restored.<\/p>\n\n\n\n<p>Expectations are mixed for the holiday season. Spending projections are lower than last year. Retailers began their promotions early to avoid overcrowding among last-minute shoppers. Jewellers with a strong digital presence are doing well as e-commerce continues to support the retail market and drive growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The diamond market continued to improve in October as holiday orders picked up, according to a Rapaport press release. Supply shortages helped buoy prices of 1 carat and larger stones. However, the positive sentiment of the previous month weakened due to a rise in global Covid-19 cases and uncertainty surrounding the US election. The RapNet&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6009,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83,96,100],"tags":[],"thb-sponsors":[],"class_list":["post-6006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin","category-diamonds","category-in-focus"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rapaport: Diamond Market Cautious On US Election Uncertainty, Covid Resurgence - 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-market-cautious-on-us-election-uncertainty-covid-resurgence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rapaport: Diamond Market Cautious On US Election Uncertainty, Covid Resurgence - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"The diamond market continued to improve in October as holiday orders picked up, according to a Rapaport press release. Supply shortages helped buoy prices of 1 carat and larger stones. However, the positive sentiment of the previous month weakened due to a rise in global Covid-19 cases and uncertainty surrounding the US election. 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