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Rapaport reported that sentiment surrounding polished diamonds improved in December, with shortages boosting prices and dealers rushing to fill last-minute orders for the holiday season.
Rapaport reported that sentiment surrounding polished diamonds improved in December, with shortages boosting prices and dealers rushing to fill last-minute orders for the holiday season.
As quoted in the market news:
Initial reports about U.S. holiday season jewelry sales are positive. General retail sales were up about 8 percent with online mobile sales up 50 to 60 percent. However, there is still very limited dealer and retailer diamond inventory buying due to uncertainty about U.S. post-holiday demand and the Chinese New Year.
The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 1.5 percent in December. RAPI for 0.30-carat diamonds advanced 4.7 percent and RAPI for 0.50-carat diamonds grew 3 percent. RAPI for 3-carat diamonds fell 0.1 percent.
For the full year 2015, RAPI for 1-carat diamonds declined 5.8 percent. RAPI for 0.30-carat diamonds dropped 13.4 percent, while RAPI for 0.50-carat diamonds slumped 14.5 percent. RAPI for 3-carat diamonds fell 14.5 percent in 2015.