Morning Bites

💍China’s jewellery and watch retail sales were up 3% YoY in April, after the 7% YoY decline in March. According to Rapaport, the shift in Chinese consumer preferences to gold investment has slowed the recovery in local diamond demand in the past months. Overall, market participants expect gradual improvements in terms of prices and consumption in 2024, which is in line with our view that the global diamond market could potentially start recovering in the next six months

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