US holiday season rising expectations!
1ct. RAPI rises 0.5% in November Diamond market sentiment improved in November amid rising expectations for the holiday season. A recovery in China and robust sales during India’s Diwali festival also lifted the mood. Polished prices are stable for 1-carat and larger goods. The RapNet Diamond Index (RAPI) for 1-carat stones edged up 0.5% in November. The holiday season began with strong e-commerce activity as the pandemic pushed consumers to shop online. Digital spending on Black Friday rose 22% year on year to $9 billion, according to Adobe Analytics. The spike in Covid-19 cases in the US and lockdowns in Europe have dampened expectations for in-store traffic during the peak shopping period. Indian jewelry retailers saw the release of pent-up demand over Diwali. In mainland China, major jewelers are seeing double-digit growth. Hong Kong remains weak as the slump in tourism continues. Polished trading slowed in late November as dealers in India and Belgium took vacation duri