Morning Bites (part 1)

💎US jewellery sales were roughly flat YoY in October, vs. the revised -3% YoY in September, IDEX reports, citing the US Department of Commerce. Although sales did not see YoY growth, this was the most favourable dynamics since January 2023 (with the revised +2% YoY). Meanwhile, according to Mastercard SpendingPulse, consumer sentiment in the US (~53% of the world gem-set jewellery trade) was rather upbeat ahead of the winter holidays: Black Friday retail sales grew 2.5% YoY, with Jewellery being one of the top gift sectors. Were the sales recovery trend to persist, this might support the stressed diamond sector, we believe

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