Morning Bites

💎US jewellery sales inched down 1% YoY in September, after the revised +5% YoY in August, IDEX reports, citing local Department of Commerce data. Despite the new US import tariffs on India’s goods (raised to 50% since late August), there was no material effect on September's sales and any impact would likely be gradual, according to the agency

We maintain our cautious view on the medium-term prospects for a recovery in the global diamond market, given the risks to supply discipline related to Anglo American's planned sale of De Beers (which is currently disrupting the price-over-volume strategy), as well as concerns about a global trade war

#diamonds