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RAPAPORT ® TRADEWIRE ®
August 3, 2023
Rapaport Market Comment - August 3, 2023

Market slow. India trade in crisis as price declines continue. 1 ct. RAPI -2.7% in July, 0.50 ct. -4.8%. Summer vacation in Belgium and Israel. American dealers have better salable inventory than Indian manufacturers, as they buy more selectively. US jewelry sector shrank 2.4% to 23,424 companies in 2Q, JBT reports. Concerns about synthetics remain. Mainland China sluggish. Hong Kong improving, with June sales of jewelry, watches, clocks and valuable gifts +64% to $713M. Optimism for Indian jewelry demand as Mumbai IIJS show opens. RJC updates terms to allow member expulsions. Armed robbers reportedly steal about $13M in jewelry from Piaget Paris store.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.70% -1.70% -1.27%
0.50 ct -1.06% -4.85% -24.43%
1.00 ct -0.87% -2.51% -23.83%
3.00 ct -0.56% -1.52% -15.05%
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Market Reports
<p data-lazy-src= United States: Retailers taking memo goods to avoid buying for stock…
<p data-lazy-src= Belgium: Industry on vacation until August 21….
<p data-lazy-src= Israel: Buyers only purchasing for specific needs and want to pay low prices…
<p data-lazy-src= India: Low-value diamonds sustaining market, but drop in sales of small rough indicates segment is slowing…
<p data-lazy-src= Hong Kong: Competition from lab-grown diamonds starting to affect business in Hong Kong…
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RJC Can Now Expel Members That Bring It into Disrepute

Legal terms have changed since the Russia crisis, executive director Melanie Grant tells the Rapaport Diamond Podcast.

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Rapaport Magazine Highlights Hottest-Selling Holiday Jewelry

Savvy retailers are stocking up for the approaching gift season, and the latest issue offers a peek at their shopping lists. We also chat with Feriel Zerouki, the new president of the World Diamond Council (WDC), about her ambitious plans for the trade body.

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Advertorial: The Next Step for GIA Diamond Reports

The most trusted diamond report, available in print or on the GIA App.

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Press Release: Diamond Prices Plummet in Difficult Market
Factors include weak retail demand and strong competition from synthetics.
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Lab-Grown Prices Are Holding Up at Retail, Says De Beers
Wholesale valuations are dropping fast, chief financial officer Sarah Kuijlaars explains.
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555ct. Diamond Bought with Illicit Funds, SEC Says
Hex token creator Richard Heart sold unregistered securities to raise $1 billion from investors, according to allegations.
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US Jewelry Trade Shrinking at Faster Rate
Number of business closures rose 8% year on year in second quarter.
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Jewelry a Standout for Kering in First Half
Boucheron, Pomellato and Qeelin all delivered double-digit growth, company says.
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Hong Kong Luxury Sales Get Boost from Tourism Return
Revenue from jewelry, watches, clocks and valuable gifts up 64% in June.
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Brilliant Earth to Offer ‘Carbon-Capture’ Synthetic Diamonds
Retailer releases two collections that rely on 100% renewable energy.
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A Guide to Succeeding in the Diamond Industry
Kevin Vantyghem, a second-generation dealer and vice president of Vantyghem Diamonds, shares his top tips on how to make it in the trade.
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Meya Diamond Mine Owner Sells Majority Stake
Sterling Global will take 70% share for $25 million.
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Firestone Sales Slide in Sluggish Rough Market
Revenue for April to June down 39% from last quarter.
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