Morning Bites (part 2)
 
💍China’s jewellery and watch retail sales surged 45% YoY in October, accelerating from the 30% YoY rise in September. However, this was mostly due to the low base effect (October 2022 was the second weakest month last year, while the October 2023 results were 2% below the 2021 levels). Overall, given the persistently high inflation and weak sentiment on the major consumer markets (the US and China account for 53% and 12% of global gem-set jewellery trade, respectively), we keep our cautious view on the diamond sector
 
#diamonds
https://metals-wire.com/sector/Diamonds