As leading wholesale loose diamond dealers, our team, on a weekly basis, keep a close watch on market trends and developments. Even more important given the current situation occurring in the world. By careful following the latest market prices our team are able to not only provide the very best prices for our loose white diamonds and loose fancy coloured diamonds, but are also able to offer advice on fashion led and design trends to ensure that each client can choose from a wide array of both classic and modern shaped diamonds.
In today’s blog post, the first in a new series, we recount the latest development in loose diamonds and the major diamond markets.
Understandably, many producers of rough diamonds are holding back on increasing their inventory and miners are cutting back. With a supply shortage currently occurring, cutters are not buying as many uncut diamonds, various companies are buying selectively based on the current market. Inventory of uncut diamonds continues to grow whilst demand for polished diamonds slows.
However, in the fancy shape market prices continue to remain steady. Currently in demand are oval shaped diamonds from 1.5 to 3 ct.followed by pears and, of course, the ever popular excellent cuts. As prices for fancy shapes drop, momentarily as there is always a bounce back, consumers are looking for alternative designs for engagement rings and the high availability of fancies under 1 ct. are facilitating this rise in demand.
In the United States, the market remains optimistic yet cautious and, with a contraction in the market, dealers are struggling to find the right stones to fulfill orders and are taking more items on approbation. Once again, following the global trend, consumers are moving towards different shapes as round and oval 1 to 2.75 ct., G-I, VS-SI diamonds for engagement rings continue to hold steady..
In Europe, Belgium is quieter as new government restrictions are enforced. Following a decline in events and tourism trading has slowed down yet viewings of rough diamonds continue reflecting the decision of buyers to acquire what is available currently as opposed to speculating on future uncut diamonds.
Prices in Israel remain strong as many dealers anticipate a limited supply of new polished diamonds going forward. Shortages have been felt across the 1.50 to 2.99 ct., F-J, VS-I1 categories. Those who are looking to buy specifics are generally paying more than those looking to acquire stock.
In India restrictions are being eased ever so slightly, however like much of the world, shortages continue to limit the operations of many manufacturers.
Rounding off with Hong Kong the demand on both an industry (inter-dealer) level and on a consumer level remains slow.
What does this mean for a high street consumer? Well, like any situation there are always positive and negative aspects. A lower supply can inflate prices for specific cuts and gradings due to a lack of availability. However, those looking to purchase a loose diamond without a preference in shape are in for some fantastic prices.
Unsure on what to look for or buy? At Diamonds Hatton Garden our team of jewellers have been in the diamond industry for over 40 years. Our expertise, experience and passion can he;p you in these difficult times and offer you the highest quality and best prices. For more information, contact our team via info@diamondshg.co.uk or on +44 (0) 7951 060238.
