Morning Bites (part 3)

💎US jewellery sales increased 7% YoY in March, slightly accelerating from the +6% YoY in February, which marked the sharpest gain in the last two years, IDEX reports, citing the US Department of Commerce. According to Rapaport, local diamond trading was stable in March, despite weak orders for some rough categories (1.0-1.5ct). In our view, a further recovery in local demand would accelerate the release of the industry's inventories and underpin improving sentiment in the global diamond market

We remind readers that the US accounts for ~53% of global gem-set jewellery demand

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