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. Our weekly report examines the global diamond market for both loose white diamonds and loose fancy coloured diamonds and details from mine to shop current pricing and demand.
July is, typically, more of a quiet season due to US summer vacations, however there is optimism within the market for the end of Q3 and Q4 and the holiday seasons. Fancy diamond shape pricing remains firm across most sizes and categories amid shortages due to the growing demand. Dealers are reporting to Diamonds Hatton Garden that they are seeing increased sales of fancy-shape diamond engagement rings. This is coupled in our experience as client’s seek alternatives to round brilliant diamonds that offer exceptional value and quality. Orders for Ovals, Pears, Emeralds, Princesses, long Radiants and Marquises across sizes .
Across the pond in the US, New York has witnessed a slightly quieter week due to the long 4th July weekend coupled with the expected and traditional summer lull. Fewer memo calls for single stones, in line with seasonal expectations. Buyers continue to be selective amid high price levels however, there are steady orders for 1 to 2 ct., G-J, VS-I1 diamonds.
In the heart of Europe, Belgium reports stable demand across most categories. Some international buyers are back in Antwerp again but dealers continue to be frustrated by delays at the Gemological Institute of America (GIA) and by general supply scarcities.
In the Middle East, our sources in Israel report positive sentiment even as US orders taper off during the summer break. Dealers are looking for goods but are struggling to find the right items at attractive prices. Solid demand for 1 ct., G-J, VS-SI, RapSpec A3+ diamonds.
In the sub-continent, India sees.sentiment improving as strong US and Chinese demand continues. There is a steady interest in round, 1 ct., G-J, VS2-I1 diamonds and fancy shapes are moving well. Surat manufacturing levels remain below capacity due to Covid-19 restrictions and high rough costs leading to reports from traders of a scarcity of polished.
Finally in Hong Kong, the local Covid-19 situation is getting better. Hopes are high that the China border will reopen at the end of July and enable tourist shoppers to return. Mainland jewelers are implementing promotions to stimulate sales during seasonally quiet period.
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.