Morning Bites (part 1)

💎US jewellery sales continued their downtrend, falling 7% YoY in April, after the revised 9% YoY drop in March, according to the Department of Commerce. Although US inflation has slowed somewhat, local consumer sentiment was hit significantly in previous months, IDEX reports. Therefore, we maintain our view that the ongoing YoY decline in US jewellery sales (since October 2022, except for the <1% growth in January), affected by adverse macroeconomic conditions, might keep the global demand for rough diamonds subdued in the near future. To recap, the US accounts for ~50% of world diamond gem-set jewellery sales

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