Morning Bites

💍China’s jewellery and watch retail sales jumped 30% YoY in September, accelerating from the +5% YoY in August. However, this was mostly due to the low base effect (the results were 11% below the 2021 levels). According to Rapaport, Chinese sales remain low after the sluggish Golden Week holiday (1-7 October), while suppliers are hoping for sales to recover somewhat by the Chinese New Year (10 February). This underpins our cautious view on the diamond sector globally, given the weak demand in the key trading hubs: the US and China account for 53% and 12% of global gem-set jewellery trade, respectively

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