Morning Bites

💍Hong Kong jewellery and watch sales shrank 24% YoY in August, remaining broadly in-line with the 25% YoY decline in July, per government data. According to Rapaport, local demand for diamond jewellery remained soft in August, as shoppers had switched to buying gold

Despite slack demand in HK, sentiment remains strong in the key US market (~53% of the world's gem-set jewellery trade), while Chinese data (~12% of the global market) has been upbeat in recent months, which might support the depressed diamond sector, if this trend were to persist

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