Morning Bites (part 1)

💎US jewellery sales shrank 9% YoY in March, after the revised 7% YoY drop in February, according to the Department of Commerce. This was the biggest monthly fall since early-2020, following the effects of Covid-19. According to IDEX, the dynamics might reflect US clients' concerns about the turbulence in the domestic banking sector. Hence, we reiterate our view that the decline in US jewellery sales (for the sixth consecutive month, except for the <1% growth in January) might keep weighing on the demand for rough diamonds, at least in the near future. We also remind our readers that the US accounts for ~50% of world diamond jewellery sales

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