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Rapaport Weekly Market Comment

Author: unknown - Published 11-04-2019 14:17 - (0 Reads)
Sentiment weak, with Indian cutters lacking liquidity. Steady demand for 1 ct. diamonds supporting the market. Low manufacturing profits placing pressure on under-0.50 ct. sector. Rough prices stable at De Beers sight, with April sales +10% to $575M. Trade expecting shortages, as De Beers plans to reduce supply to sightholders in new sales period. Alrosa March sales -33% to $377M. Graff unveils world’s largest square emerald diamond: A 302.37 ct., D stone cut from 1,109 ct. Lesedi La Rona. LVMH upbeat on luxury market, with 1Q jewelry and watch sales +9% to $1.2B. Far East retail outlook uncertain. Responsible Jewellery Council names Iris Van der Veken executive director.

Alrosa March Revenue Plunges

Author: unknown - Published 11-04-2019 14:15 - (0 Reads)
Sales at Alrosa fell 33% year on year to $377.1 million in March, even as the rough market picked up after a weak start to the year.

Gold Prices Steady After Steep Fall

Author: unknown - Published 11-04-2019 14:09 - (0 Reads)
April 12 (Reuters) - Gold prices steadied on Friday, having posted their biggest daily decline in two weeks in the previous session after robust U.S. economic data lifted the dollar.

FUNDAMENTALS

  • Spot gold was up about 0.1 percent at $1,293.19 per ounce as of 0123 GMT, after slipping more than one percent on Thursday.

  • For the week, gold is up about 0.1 percent, on track to eke out its first weekly gain in three.

  • U.S. gold futures gained about 0.3 percent at $1,296.60 an ounce.

De Beers Reduces Sightholder Supply

Author: unknown - Published 08-04-2019 14:10 - (0 Reads)
De Beers sightholders are bracing for lower rough supply for the rest of 2019 as the miner reduces its production and fulfills its commitments to support local manufacturing in Africa.

WHITE DIAMOND RAKES IN A STAGGERING $13.7 MILLION AT SOTHEBY’S

Author: unknown - Published 04-04-2019 20:23 - (0 Reads)
The diamond, a type II. Flawless, D colour stone, was cut from a 242-carat rough mined at the Jwaneng mine in Botswana, and purchased by a Japanese private collector who named the stone “Manami Star” after his daughter. Patti Wong, Sotheby’s chairman in Asia, said: “The diamond takes its place in the roster of top white diamonds to have come to the market here at Sotheby’s Asia. Three clients from the region competed for the stone – testament to the strong demand for diamonds of this quality in this part of the world”.

Blue Diamonds Fail to Sell at Sotheby’s

Author: unknown - Published 04-04-2019 20:20 - (0 Reads)
Sotheby’s failed to find a buyer for three blue diamonds at its Hong Kong auction Tuesday.

Rapaport Weekly Market Comment

Author: unknown - Published 04-04-2019 15:41 - (0 Reads)
Polished market slow, with stable US demand supporting the trade. Dealers under pressure as polished prices continue to soften. 1 ct. RAPI -0.5% in 1Q. Rough-market sentiment weak amid reports De Beers is reducing 2019 supply. Manufacturers hoping reduced rough sales will ease liquidity concerns. Signet 2018 sales -0.1% to $6.3B, loss of $690M vs. profit of $486M. Chow Sang Sang 2018 revenue +13% to $2.4B, profit +15% to $129M. Tiffany and Forevermark shift marketing focus to bridal. Sotheby’s Hong Kong sells oval, 88.22 ct., D, FL diamond for $13.8M ($156,150/ct.). De Beers launches provenance program for “Diamonds from DTC.” GIA rebrands synthetics grading report as lab-grown.
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