Morning Bites (part 1)

💍China’s jewellery and watch retail sales declined 14% YoY in June, following the 12% YoY decline in May. The figure was also 1% below the (pre-pandemic) 2019 level. The dynamic likely represents the concerns of the middle class, given mixed signals on China’s economic recovery. To recap, China represents ~15% of the world's gem-set jewellery trade. Given weak sales data in China and the US, we maintain our cautious outlook on the diamond sector, amid adverse macroeconomic conditions globally

#diamonds 
https://metals-wire.com/sector/Diamonds