News:

Recovery continues in 0.30 to 0.69 ct. diamonds, especially 0.30 ct., VS items. US inventory inconsistent, with some categories in glut and others undersupplied. Tariffs preventing free flow of goods, as reexporting from US unviable for polished traders who have already paid import costs. American dealers pricing their goods higher than Indian companies’ US branches. Diamonds under 0.01 ct. (-2) hot. High-end jewelry in demand at Vicenzaoro. CIBJO recommends “synthetic” as descriptor for non-mined diamonds. Signet fiscal 2Q sales -0.5% YOY to $1.5B amid James Allen closure; shares spike as earnings beat forecast. The Rapaport Group wishes everyone a happy and healthy Jewish New Year.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds moving well in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquise most expensive fancy shape. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Reports of demand for Princesses after long period of weakness; prices remain low. Antique cuts and styles hot. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.

Country Comments

United States:

Short week due to Labor Day. Contract manufacturers busy fulfilling orders for fashion and bezel-set jewelry. Bridal demand steady in 1.50 ct. and larger, D-H, VS-SI in both rounds and fancies. Long fancies (pears, radiants, marquises) and antique shapes solid; emerald cuts have cooled.

Belgium:

Strong Belgian attendance at Vicenzaoro, with show reflecting healthy state of European high-end market. Antwerp trading has picked up in rough and polished. Small goods doing well, especially 0.20 ct. and below. Oval and marquise shapes in larger sizes moving nicely. Long cushions softer than before due to oversupply; radiant and old-cut goods in demand.

Israel:

Domestic trading very slow; Israeli dealers buying in India and selling in US. Activity set to decline over upcoming festival season.

India:

Market quiet due to religious festivals. Retailers and chain stores actively restocking. Rounds in 0.30 to 0.50 ct. and 2 ct.-plus ranges in strong demand, with 0.30 ct. the hottest category as availability tightens. Stars and melee also seeing increased demand, with local brands buying. Manufacturers have cut production sharply, further reducing inventory of 2 ct. and larger goods and supporting prices.

Hong Kong:

Market quiet as companies prepare for Jewellery & Gem World Hong Kong show (September 14 to 20). Fancy-shape diamonds 2 ct. and larger seeing active trading among high-end buyers. Goods under 1 ct. with lower color and clarity performing poorly, while fancy pinks and fancy-intense yellows of high quality seeing steady inquiries. Chinese buyers favoring high-margin finished pieces over loose inventory. Shenzhen International Jewelry Fair underway in China, where market has been quiet.