Rapaport Market Brief - September 29, 2022
September 29, 2022
News: Diamond trading quiet over Jewish holidays. Dealers cautious due to market slowdown as polished prices continue decline. US jewelers optimistic for 4Q. Stock market slump and strong dollar affecting sentiment. Volatile euro and record-low Indian rupee (INR 81.90/$1) squeezing dealer liquidity. Singapore show opens to mixed expectations; Chinese buyers limited by Covid-19 travel restrictions. Rough market seeing reduced demand. Manufacturers have enough inventory ahead of Diwali break. Pear, 18.18 ct., fancy-vivid pink expected to fetch $25M to $35M ($1.4M-$1.9M/ct.) at Nov. Christie’s Geneva sale. Rapaport offices will be closed on Wednesday, Oct. 5, for the Yom Kippur holiday.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 and larger, F-J, VS-SI goods stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Article originally published on Diamonds.net here