Morning Bites (part 2)

💎US jewellery sales growth slowed to <1% YoY in January, after the 6% YoY jump in December, IDEX reports, citing the US Department of Commerce. According to Rapaport, the US retail market remained seasonally quiet in early-2024. Despite some slowdown in local sales recovery, the potential decline in US Fed Funds rate in 2024 might bolster the consumer spending and accelerate the release of the industry's inventories, in our view

To recap, the US accounts for ~53% of world gem-set jewellery trade

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