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Rapaport Weekly Market Comment
Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs...
Polished Markets Aug 06, 2020 Rapaport News
Rapaport TradeWire August 6, 2020
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Research Aug 06, 2020 Rapaport
Rich Shatz
Jewelry Connoisseur Podcast: The Estate Market
The estate-jewelry sector has fared well during the Covid-19 crisis as customers have continued to show interest in designer goods, dealer Rick Shatz told the Jewelry Connoisseur Podcast.Higher-end clients — on whom the pandemic has...
Retail Aug 06, 2020 Rapaport News
NRF 150
July Figures Cast Cloud over US Retail Recovery
The US retail outlook is declining after the country’s economic recovery slowed in July amid a resurgence of coronavirus cases, according to the National Retail Federation (NRF). “A lack of clarity regarding job outlook and future finances tends...
Retail Aug 06, 2020 Rapaport News
Alrosa rough sorting at Mirny.
Alrosa Nearing Inventory Deal with Govt.
Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods.Gokhran — Russia’s state gem and precious-metal depository — would...
Rough Markets Aug 06, 2020 Joshua Freedman
Mining Ekati 150
Mining Sell-Off Highlights Sector’s Woes
Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
Mining Aug 06, 2020 Leah Meirovich
Jewelry 150
Hong Kong Show Runner Unveils Digital Platform
Informa Markets, the organizer of the September Hong Kong show, has launched a digital platform enabling the jewelry industry to trade and network outside the context of physical exhibitions.The company behind the annual Jewellery...
Polished Markets Aug 05, 2020 Rapaport News
July RetailRap 150
How to Market Jewelry During the Pandemic
Is it appropriate for jewelers to market during the pandemic?Yes, now is when jewelers need business the most. I think it’s the perfect time to increase marketing and market share. There are many jewelers that aren’t...
Marketing Aug 05, 2020 Leah Meirovich
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
Polished Markets Aug 05, 2020 Rapaport News
Chow Sang Sang 150
Chow Sang Sang Warns of Steep Profit Drop
Chow Sang Sang is expecting profit to plummet for the first half of the year amid store closures and a sharp decline in tourism to Hong Kong.Profit will fall between 65% and 70% year on year to an estimated...
Retail Aug 04, 2020 Rapaport News
AGS 150
AGS Lab to Restart Synthetics Grading
The American Gem Society (AGS) will resume grading synthetic diamonds after an eight-year pause.The group will offer digital reports for lab-grown stones as part of its Only My Diamond (OMD) platform, an online service to help...
Polished Markets Aug 04, 2020 Rapaport News
De Beers Rough
Reduced Diamond Supply Lifts Polished Prices
RAPAPORT PRESS RELEASE, August 4, 2020, Las Vegas… Polished diamond prices firmed in July due to supply shortages for select categories. Sentiment remained weak and trading levels low amid new Covid-19 restrictions.The RapNet...
Polished Markets Aug 04, 2020 Rapaport
De Beers Office in Botswana
De Beers Turns to Tech as Layoffs Loom
De Beers is no stranger to changing strategy. Throughout its 130-plus-year history, the company has often adjusted its approach, sometimes with just a few tweaks, and on other occasions with radical consequences for the diamond market....
Rough Markets Aug 03, 2020 Avi Krawitz
Asian Star 150
Asian Star Expects Long-Term Covid-19 Impact
Mumbai-based diamond manufacturer Asian Star believes jewelry demand will remain sluggish through the end of the quarter as the coronavirus weighs on consumer spending.“Economic disruption caused by Covid-19 has changed consumer behavior, as people have...
Manufacturing Aug 03, 2020 Rapaport News
Judah Zeigler.
Frederick Goldman Hires E-Commerce Head
New Jersey-based jewelry manufacturer Frederick Goldman has appointed Judah Zeigler vice president for business-to-business (B2B) e-commerce.He will be responsible for developing and leading all of Frederick Goldman’s efforts in the field, in particular overseeing...
Retail Aug 03, 2020 Rapaport News
Rough diamonds Diamcor.
Large Stones Support Diamcor Average Price
Diamcor’s average selling price rose to just under $112 per carat at its latest rough tender as demand shifted to higher-value goods, the miner reported last week.The company garnered $271,263 from the sale of 2,427...
Mining Aug 02, 2020 Rapaport News
Burj Khalifa.
Diamonds Light Up World’s Tallest Building
Dubai has embarked on an eye-catching campaign to attract the global diamond industry to the emirate — and has lit up the world’s tallest building to mark the launch.The story of a diamond’s creation recently appeared on the side of the...
Polished Markets Aug 02, 2020 Rapaport News
Rough diamonds
India Urges ‘Self-Discipline’ from Rough Buyers
Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain.The Gem & Jewellery Export Promotion Council (GJEPC) and four...
Rough Markets Aug 02, 2020 Rapaport News
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Rapaport Weekly Market Comment
Sentiment weak as trading centers reinforce Covid-19 restrictions. Supply shortages supporting polished prices as cutters refrain from rough purchases. Manufacturing profit margins better than pre-pandemic, resulting from select rough buying that aligns...
Polished Markets Jul 30, 2020 Rapaport News
HK skyline
Hong Kong Retail Takes ‘Austere’ Turn
Hong Kong’s retail market took a turn for the worse this month amid the coronavirus’s resurgence, reversing a slight improvement in June, the government cautioned Thursday.The municipality has entered a third wave of infections, prompting...
Retail Jul 30, 2020 Rapaport News
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