Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
SourcingJan 05, 2017
Diamond Trade ‘Optimistic’ for 2017
Diamond dealers are echoing the same sentiment expressed by jewelers--they gotta feeling that this year is going to be a good, good year.
Diamond traders and manufacturers are looking to the United States to continue to support global demand for diamonds in 2017 as trading in other markets remains subdued.
New York--According to Rapaport, diamond dealers are echoing the same sentiment expressed by jewelers--they gotta feeling that this year is going to be a good, good year.
In its monthly report for December, the Rapaport Group stated that initial indications from the holiday season were “encouraging,” noting the increase in consumer confidence in December and the rising stock market.
Interviews conducted by National Jeweler with jewelers across the country Tuesday seemed to affirm the notion that the holiday season just past was indeed a merry one, with all who were interviewed reporting they had a strong holiday season.
A number of jewelers said it was their best Christmas-Hanukkah stretch in years, leaving them extremely bullish on 2017.
The Rapaport Group said diamond dealers are optimistic about U.S. demand for polished diamonds in 2017, with the expectation that President-elect Donald Trump is going to reduce taxes and create jobs--pledges that have both come under scrutiny--“largely expected to improve trading conditions.”
Polished diamond prices, meanwhile, softened in December and diamond trading was quiet, as is normally the case during the month.
The RapNet Diamond Index (RAPI) for 1- and 3-carat GIA-graded diamonds was down 1 percent in December, while the RAPI for 0.50-carat stones fell 2 percent.
The only size tracked by the index to show a gain, albeit very slight, was 0.30-carat stones, up less than 1 percent.
For the full year, prices finished down 8 percent for 3-carat diamonds, down 5 percent for 1-carat diamonds, down 1 percent for half-carat stones, and down 0.5 percent for diamonds that are 0.30 carats.
The Rapaport report again noted the impact that Indian demonetization, which pulled the widely used 500 and 1,000 rupee notes out of circulation, is having on demand for lower-quality and smaller rough and polished diamonds.
RELATED CONTENT: Indian Demonetization Delays Gemfields Auction
De Beers and Alrosa both made the same observation when releasing their last sales reports of the year in December.
As for rough diamond demand, the Rapaport Group report said after being seasonally slow in the fourth quarter, it is expected to pick up in the first quarter 2017.
More on Sourcing
The Latest
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
WatchesApr 10, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
IndependentsApr 10, 2024
Levy's Fine Jewelry Explores Diamond History The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.
CollectionsApr 10, 2024
With Clarity Partners With NFL on Wedding Bands The limited-edition men’s rings can be customized with one of 12 team logos.
WatchesApr 09, 2024
Chrono24 Debuts Pre-Owned Watch Authentication ProgramThe program, now live in Europe, will roll out to the U.S. this summer.
AuctionsApr 09, 2024
Phillips to Offer 6.21-Carat Vivid Pink DiamondColored gemstones and signed jewels are the focus of its upcoming Geneva sale.
