Latest Publications on Diamond Prices March 2023:
Full-year polished imports jumped 19% to $22.97 billion in 2022 as the sector continued its recovery from the Covid-19 pandemic.
Diamond trading was quiet in February as the trade prepared for the Hong Kong International Jewellery Show, which ran from March 1 to 5.
Israel's diamond trade saw contrasting trends in February, with polished shipments soaring but rough declining as the market's sluggishness continued.
Hong Kong's polished-diamond imports increased 3% to $14.81 billion in 2022 as the market continued to recover from the Covid-19 downturn, according to recent data from the Diamond Federation of Hong Kong, China. A rise in the average price outweighed a decline in volume for the quarter and the full year, figures showed.
Six major factors will determine the makeup of the diamond industry this year, following a market decline in last year's second half, according to Rapaport Senior Analyst Avi Krawitz.
Polished goods moving into and out of the emirate jumped 42% by value, while rough imports and exports gained 7%, the state-owned Dubai Multi Commodities Centre (DMCC) said last week.
While holiday 2022 did not meet expectations, wholesalers report a good year overall and remain optimistic about weathering the challenges of 2023. However, they worry about consumer confidence.
While round diamonds remain the dominant style in the market, particularly for engagement rings, fancies have experienced an upward trend in recent years.
US couples spent 3% less on engagement rings last year, as lab-grown diamond center stones gained popularity.
RAPNET:
A summary of three ways inflation is affecting the diamond and jewelry trade to give you some added insight and perspective on how rising prices may impact your business.
Gem Diamonds delivered a "solid" set of results in 2022, despite increased costs as a result of Russia's invasion of Ukraine.