Diamond market rebounds; prices rise - Jeweller Magazine: Jewellery News and Trends jewellermagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jewellermagazine.com Daily Mail and Mail on Sunday newspapers.
Diamond market upbeat as orders stream in; dealers frustrated with sourcing difficulties. Prices firm due to supply shortages and steady US and Chinese demand. Rough trading strong as De Beers raises prices by estimated 5% for goods above 2 ct. Major jewelers gaining market share with robust.
Supply shortages driving uptrend in prices. 1 ct. RAPI +0.8% in May. Inventory declining; number of 0.30 to 0.50 ct., RapSpec A3+ stones on RapNet -23% since April 1. Large US and Chinese retailers stimulating demand. Scarcities and rising prices making it hard for dealers to replenish polished.
Upbeat US and China retail sales driving positive sentiment. Trading limited due to supply scarcity and India Covid-19 travel restrictions. Polished shortages stimulating rough buying at firm prices. Strong cash buyers making for good market liquidity, but India experiencing some.
Stuller Appoints Head of Gemological Lab RAPAPORT. Stuller, a provider of goods and services for jewelry professionals, has named Guy Borenstein as its senior gemologist.
Borenstein has 15 years of gemology experience under his belt, including stints as vice president of gemological services at Gemewizard, and as chief gemologist at the European Gemological Center and at GWLAB laboratories, an independent chain of labs.
“Guy is a world-class talent, highly respected among leading gemologists,” Stanley Zale, Stuller’s vice president for diamond and gemstone procurement, said Monday.
Stuller was founded more than half a century ago. Its core product categories include bridal jewelry, wedding bands, and fine jewelry.