Welcome back to the Diamonds Hatton Garden blog where we bring you the latest from our Hatton Garden jewellers. When looking for loose diamonds for diamond engagement rings, diamond tennis bracelets or a pair of beautiful diamond earrings it is important to understand how the global diamond market influences the retail price.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.
Overall, the market remains upbeat despite the seasonal holiday lull predominantly driven by the US market. Global sales continue to grow as production begins to ramp up.
The market for fancy shaped diamonds remains robust with prices firming up across most sizes and shapes however, there does remain shortages due to the growing demand for these shapes. Our sources report that the popularity of fancy-shaped diamond engagement rings continues to grow with rising orders in for Ovals, Pears, Emeralds, Princesses, long Radiants and Marquises. Ovals and Cushions. Demand is particularly strong amongst the above with excellent symmetry and proportions.
In the United States, the mood is optimistic amongst steady wholesale and retail businesses both dealing directly with buyers and business to business. Much like in China, high-end jewelers are doing well as consumers are enjoying the stock-market wealth boom and savings from Covid-19 lockdowns.
In Europe, Belgium: dealers are busy filling orders before the three-week summer holiday where the Bourses will be closed from August the 2nd to 22nd. There is steady US, European and Chinese markets which are driving activity and the demand spreads across a broad range of goods.
In Israel, polished trading is upbeat as dealers look for goods locally whilst travel to other sourcing centers remains limited. As with the US and global fancies market the demand for 1 to 1.99 ct., G-H, VS-SI, RapSpec A3+ diamonds is strong, showing that consumers are looking for excellent quality stones.
In India, there is positive sentiment amid strong US and Chinese demand. Local retail continues to improve with steady movement in 1 to 2 ct., G-I, VVS-VS2. Supply scarcities continue, but more certified diamonds are becoming available as GIA releases more goods to the market. Rough prices prompting concerns about manufacturing profitability. Factories operating at 70% to 80% of capacity.
Ending our report, we look at Hong Kong where trrading is relatively slow. However, there is a stable interest in 0.30 to 0.80 ct., D-I, VS-SI2, 3X categories; 3 ct. Chinese buyers currently are limited to online and local sourcing since the border remains closed which is affecting foot traffic and standard retail. Luxury shoppers are absent from high-end Hong Kong malls unlike in the US which is seeing a return to buying.
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.