Morning Bites (part 2)

💍Hong Kong jewellery and watch sales declined 5% YoY in November, decelerating from the 11% YoY drop seen in October, per government data. According to Rapaport, local trading picked up gradually ahead of Christmas and Chinese New Year, but business was still slower than in previous years

Despite weak sales dynamics in HK, sentiment remains strong in the key US market (~53% of the world's gem-set jewellery trade), which is likely to support the implied recovery in the stressed diamond sector in 2025, in our view

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