Welcome back to the Diamonds Hatton Garden blog where we bring you the latest from our Hatton Garden jewellers. We continue with our ongoing series and look into the latest developments within the diamond industry and share our insights.
Following on from a rise in Covd-19 cases in India there has been a noticeable slowdown in the diamond market with many of Surat’s factories closed due to health concerns and a lack of workforce. With the drop in smaller polished goods, globally polishers have been focusing on larger better quality goods. Global demand appears to be driven by the US and Chinese market although there is an increasing demand from Europe.
The fancy cut loose diamond market continues to grow in particular; there have been an increase in buyers looking for oversized diamonds. Still, and as advised by our own team of diamond buyers, better value can be currently found in fancy shaped diamonds compared to round diamonds and we are seeing a rise in orders for Ovals, Pears, Emeralds, Princesses, long Radiants and Marquises. In addition to fancies, we are seeing a strong diamond engagement ring in Hatton Garden with these particular sales supporting the market.
Over in Belgium, dealers are optimistic and are pushing diamond sales to the US market which is experiencing a greater uptick than Europe currently. Generally speaking, the most popular sizes remain 1-2 carats, colour G-H and clarity VS-SI.
Israel remains in an upbear mode with dealers willing to both buy and sell. Much like in Belgium and Europe in general there is a stable demand for 1 to 1.49 ct., G-H, VS-SI items. Fancies below 1 ct. seeing uptrend as buyers nce
Despite the worsening Covid-19 situation, India continues to support the global market. Traders are expecting that summer business will be slower due to a higher than average cancellation of holidays.
Finally Hong Kong trading is stable despite a low season from the mainland of China. As is elsewhere, we see a solid demand for the higher spec loose diamonds in the regions of 1 ct.,D-H, VS2-SI2, 3X in both rounds and fancy shapes.
We hope our look into the global diamond market is useful and, for any enquiries or advice, contact our team of family jewellers via info@diamondshg.co.uk or via +44 7951 060238.