Morning Bites (part 2)
  
💍China’s jewellery and watch retail sales were flat YoY in January-February, after the one-off 9% YoY decline in December. The sales were also 17% above the 2021 level (as well as +31% vs. early-2019). Meanwhile, Rapaport notes that local retail activity started picking up in February, with steady demand for small diamonds. In our view, further improvement in China's diamond demand (which accounts for ~12% of the world's gem-set jewellery trade), in addition to potentially lower key rates in the top economies (e.g. the EU and US) in 2024, would support the gradual recovery in the global diamond market
  
#diamonds
https://metals-wire.com/sector/Diamonds