Morning Bites

💎US jewellery sales inched up 1% YoY in July, vs. the -1% YoY seen in June, IDEX reports, citing local Department of Commerce data. According to the agency, the modest increase largely reflects a rush by exporters to get their goods into the US before the tariff deadlines, and retailers stockpiling for the same reason, which offset low consumer demand

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