Trading is slow. The weak demand for bare diamonds of 0.25 carats and above has led to a decline in prices. The distributor is focusing on considering the memorandum. Jewellers control inventory and make purchases based on specific orders. The US market is relatively calm as it enters the off-season of summer. Despite the improvement in the US job market, the Federal Reserve has warned of the possibility of raising interest rates at its meetings in July and September, with unclear prospects. The Hong Kong exhibition market activity is not active, with almost no overseas buyers appearing. The United States has imposed sanctions on four gold and diamond companies and an individual supporting the Russian Wagner Military organization. The pressure on the raw stone market has increased. As the deadline approaches, the Debyers Botswana transaction is facing challenges. Birks' annual sales decreased by 10% to $124 million; A loss of $5.7 million, compared to a profit of $1 million a year ago.
Special shaped diamond: The market performance of special shaped diamond is slower than before, but better than round diamond. The price of longer oval, pear shaped, rayon shaped, and pad shaped diamonds is higher than that of shorter diamonds. Diamonds with medium to short ratios exhibit weaker performance. The market's demand for cushion diamonds has decreased. A 0.30 carat diamond performs well. Diamond orders ranging from 0.70 to 1.20 carats are relatively low. Except for diamonds ranging from 1.20 to 1.49 carats, the quality of VS-SI grade diamonds is decreasing. The supply of well cut diamonds is tight. Diamonds in good cutting condition have a high premium. Retailers provide a wider range of product choices to meet consumers' demand for other cutting methods. Large diamonds are traded at higher prices. Low quality and poorly cut shaped drills have poor liquidity and are difficult to sell.
United States: Demand in most categories is weak. Small diamonds support the market; Diamond trading of 0.30 carats and above is slow. Due to uncertain trading conditions, retailers are more inclined to request memorandums rather than purchasing inventory. According to the report of the American Think Tank Conference Committee, with the improvement of business and employment prospects, the Consumer confidence index rose by 7% in June.
Belgium: Market demand and prices have declined, and sentiment is low. Concerns about the impact of artificial diamonds have intensified. According to reports, the transactions at the Hong Kong exhibition in June were quite sluggish. The raw stone market is sluggish due to a decrease in orders for bare diamonds; Diamond sales of 3 points and below support the market.
Israel: Trade activities on the Diamond Exchange have decreased. The sluggish global demand has affected market sentiment. The decline in prices has made sales difficult. The reduction in production has led to a shortage of high-quality goods.
India: The market performance is calm, and buyers only make purchases based on specific orders. Shaped diamonds perform better than round diamonds. Enterprises find it difficult to control costs. The market is optimistic about the recovery in July. Due to limited profit margins, production remains low. The price of artificial Synthetic diamond of 1 carat and above is stable.
The number of Chinese buyers participating in the exhibition is relatively small. The weak demand may last until the World's fair of Jewelry and Gems in September. The local economic situation affects retail sales. The market in Chinese Mainland grew slowly, but there were some transactions of 0.30 to 1 carat, D-J, VS-SI (3X, non fluorescent) diamonds. The depreciation of the Chinese yuan (which fell 2.4% in the past month to 7.25 RMB/USD) has affected cross-border transactions.
