Shortages supporting the market as RAPI for 1ct. rises 1.5%
(NEW YORK) - Polished diamond market sentiment improved in December as shortages supported prices and dealers filled last-minute holiday orders. 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.