{"id":3335,"date":"2019-01-04T15:21:32","date_gmt":"2019-01-04T15:21:32","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=3335"},"modified":"2019-01-04T15:21:32","modified_gmt":"2019-01-04T15:21:32","slug":"diamond-news-and-weekly-market-summary","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/diamond-news-and-weekly-market-summary\/","title":{"rendered":"Diamond News and Weekly Market Summary"},"content":{"rendered":"<p><strong>Diamond News:<\/strong><br \/>\ni. Trading of polished diamond in India remained slow due to festive season of Christmas and New\u00a0year. However jewelry sales remained stable due to ongoing wedding season.<\/p>\n<p>ii. The Gem &amp; Jewelry Export Promotion Council (GJEPC) and the Metals and Minerals Trading\u00a0Corporation of India (MMTC) have entered a partnership to promote jewelry in the UAE.<\/p>\n<p>iii. During H22018, diamond prices softened due to US-China trade war. Sentiment softened as the Dow Jones Industrial Average fell 6% for the year, with concerns that investors would\u00a0experience a negative wealth effect. Tighter credit in India and rising demand for lab-grown\u00a0diamonds contributed to the trade\u2019s caution. The RapNet Diamond Index (RAPI\u2122) for 1-carat\u00a0diamonds rose 0.7% in CY 2018.<\/p>\n<p><strong>Weekly Market Summary:<\/strong><br \/>\nDiamond trade ends relatively good year with 1 ct. RAPI +0.7% despite weak 2H. Diamond\u00a0manufacturers cautious amid expectations of continued midstream consolidation due to\u00a0bankruptcies and mergers. Dealer market quiet over New Year holiday. Polished suppliers start\u00a02019 with high inventory of small goods up to 0.30 ct. Total diamonds listed on RapNet +24%\u00a0year on year to 1.5M on Jan. 1. Positive US holiday season sees strong store and web traffic.\u00a0Retail outlook optimistic, boosted by tax reforms and low unemployment, but stock-market\u00a0volatility, higher interest rates and US-China trade tariffs may slow luxury spending.<\/p>\n<p><strong>Fancies:<\/strong> Fancy-shape market stable, driven by US and European demand for fashion jewelry.\u00a0Ovals are best sellers, followed by Emeralds, Cushions and Pears. Supply shortage supporting\u00a0prices for Pears. Radiants improving. Marquises and Princesses weak. Oversizes selling well.\u00a0Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with prices firming for 3 to 5 ct. due to shortages. Chinese consumers seeking fancy shapes at better prices. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.<\/p>\n<p><strong>United States:<\/strong> Wholesale market quiet, with businesses slowly returning from Christmas-New\u00a0\u00a0Year vacation. Initial holiday retail reports positive, but growth slower than in 2017. Trading\u00a0expected to increase in January following decline in inventory levels during holiday season.\u00a0Consumer confidence fell 7% in December to its lowest level in five months, according to the\u00a0Conference Board, reflecting concern that economic growth would slow in the first half.<\/p>\n<p><strong>Belgium:<\/strong> Most businesses closed over New Year. Dealers assessing first-quarter inventory needs before bourses reopen on January 7.<\/p>\n<p><strong>Israel:<\/strong> Trading sluggish as suppliers wait for holiday-season results and replacement orders.\u00a0Israeli dealer-to-dealer activity continues to slow. Cautious outlook for the year amid\u00a0consolidation and rumors of layoffs. Businesses assessing new tax laws that took effect for the\u00a0diamond industry on January 1.<\/p>\n<p><strong>India:<\/strong> Polished trading down, with few foreign buyers in the market over Christmas-New Year.\u00a0Suppliers holding prices firm during lull, but willing to discount on very old stock.\u00a0Manufacturers raising polished production, but wary due to high inventory levels. Consolidation expected this\u00a0year as bankruptcy rumors persist. Jewelry sales stable during ongoing wedding season.<\/p>\n<p><strong>Hong Kong:<\/strong> Market quiet, with many dealers on vacation over Christmas and New Year.\u00a0Preparations under way for Chinese Lunar Festival on February 5. Jewelry manufacturing steady,\u00a0with orders from the US and China staying strong despite trade war. Tourist arrivals continue,\u00a0but focus turns to discount shopping rather than luxury.<\/p>\n<p>(Source: Rapaport News)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Diamond News: i. Trading of polished diamond in India remained slow due to festive season of Christmas and New\u00a0year. However jewelry sales remained stable due to ongoing wedding season. ii. The Gem &amp; Jewelry Export Promotion Council (GJEPC) and the Metals and Minerals Trading\u00a0Corporation of India (MMTC) have entered a partnership to promote jewelry in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[3085,3084,3082,3086,3081,3083],"class_list":["post-3335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-cushions","tag-emeralds","tag-gem-jewelry-export-promotion-council-gjepc","tag-pears","tag-trading-of-polished-diamond","tag-us-china-trade-war"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Diamond News and Weekly Market Summary - Finance Intellect<\/title>\n<meta name=\"description\" content=\"Trading of polished diamond in India remained slow due to festive season of Christmas and New\u00a0year. 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