Morning Bites (part 2)

💍Hong Kong jewellery and watch sales dropped 14% YoY in December, accelerating from the -5% YoY seen in November, per government data. Overall, in FY24 local sales declined 14% YoY. According to Rapaport, HK sales dropped in December as residents preferred traveling abroad during the holiday period, and spent less domestically

Despite strong sales in the key US downstream market (~53% of the global gem-set jewellery trade), the diamond market recovery might take longer than we had anticipated. In our view, the 2024 winter holidays sales did not bring much positivity, while midstream inventories remain elevated in early-2025, according to market participants

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