Diamond industry news recap - January 9, 2023.
RAPAPORT- Market Comment
Diamond markets quiet and sentiment cautious due to seasonal lull and general uncertainty. Manufacturers maintaining low polished production, cutting prices to offload less-popular goods and to raise liquidity. Muted expectations for Jan. 22 Chinese New Year as consumers seek alternative cuts and shapes. Jewelry dealers in the US, Europe and Asia looking for customers as key markets remain on vacation after New Year's break with Antwerp, Belgium, Israel and China quiet during holiday period. Engagement ring segment driving business; high-end luxury weaker.
Diamond Sales Fuel Botswana Budget Surplus as Buyers Shun Russia
Surplus of 0.55% of GDP recorded in six months through Sept.
Botswana is second biggest diamond producer in the world
India: Jeweler Sets World Record for Watch with 17,524 Diamonds
The watch, inspired by ancient Indian mythology, is set with 17,524 natural hand-cut diamonds
De Beers Institute of Diamonds Expands to Offer Education
De Beers is sharing over 130 years of experience and expertise through the De Beers Institute of Diamonds with a selection of courses.
Roll Call For 2022’s Departing Jewelry Retailers
JCK published the names of brick-and-mortar jewelry stores, listed by state, that have either closed their doors or announced they would close in 2022. It doesn’t include every store that closed, just the ones that they found information on. This roster is based on information from local news sources and social media posts.
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Owl Financial Group, LLC
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