GJ Town India

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...

  Diamond Market Cautious Ahead of Holidays   The diamond market continued to improve in October as holiday orders picked up. Supply shortages helped buoy prices of 1-carat and larger stones. However, the positive sentiment of the previous month weakened due to a rise in global Covid-19 cases and uncertainty surrounding the US election.  The RapNet Diamond Index (RAPI) for 1-carat polished diamonds rose 1% in October and was up 2.9% from the beginning of the year.  The RAPI index stabilized toward the end of the month as more goods became available and because prices had increased substantially since the start of the pandemic.  Buyers shifted to lower-color diamonds (I to L), which had seen less of a price hike than D to H. This was particularly true for 0.30 to 0.50 carats.   Manufacturers raised polished production after the Indian government eased its Covid-19 restrictions. Larger factories are operating at an estimated 70% to 90% of capacity. Cutter...