Morning Bites

💎US jewellery sales fell 3% YoY in January, vs. the revised down +2% YoY in December, IDEX reports, citing the local Department of Commerce data. According to Rapaport, local diamond trading was seasonally slow in January, but market participants are underpinning the steady demand for some 1.5+ct stones

Overall, we keep our cautiously upbeat view on the global diamond market, but it might take longer than we had anticipated to recover, given the still high midstream inventories and the slowdown in the US downstream market in early-2025 (~53% of the world gem-set jewellery trade)

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