News: US retail steady as holiday season reaches peak. US wholesalers focusing on selling rather than buying. India overseas sales slow. Strong premiums for round, 2.50 to 2.99 ct. diamonds. Fancies 3 ct. and larger hard to find. Rough market in crisis, with uncertainty about supply, demand and future prices. Tender prices under pressure. De Beers’ 2025 supply expected to decline 20%-30%, with reports of about 10 sightholders losing allocations, mostly in producer countries. De Beers tells sightholders to split purchases evenly between 1H and 2H. US total Nov. retail sales +3.8% YOY to $724.6B. US sanctions 28 people and companies involved in gold smuggling. Happy holidays to everyone.
Fancies: Fancy-shape prices stabilizing. Prices firm for 2 ct. and larger. 3 ct. and larger fancies hard to find. Good US orders and price increases for elongated Ovals in D-I, VS-SI diamonds with good shape and quality. Elongated Emeralds, Radiants and Pears in demand, with stable prices. 2.50 to 2.99 ct. trading at significant premiums in those shapes. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.
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