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Morning Bites

💍Hong Kong jewellery and watch sales increased 9% YoY in July, after the 6% YoY gain in June, per government data. According to Rapaport, the rise was partly due to rising gold prices, as well as a slight recovery in demand for gemstone jewellery

We reiterate our view that the global diamond market recovery might take longer than we had anticipated, given still high midstream inventories and the risks to supply discipline in 2025

#diamonds
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