Morning Bites

💎US jewellery sales rose 6% YoY in July, after the revised 5% YoY gain in June, marking the 9th consecutive YoY gain, IDEX reports, citing the US Department of Commerce. According to Rapaport, retail sales remained steady at mid- and high-end jewelers in July, while wholesalers aimed to hold limited diamond stock

We reiterate our view that solid sales recovery in the world's key US downstream market (~53% of global retail gem-set jewellery trade) could accelerate the release of industry inventories in 2H24, supporting sentiment in the stressed diamond market

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