News:
Market facing deep uncertainty about tariffs. Retailers passing costs on to consumers. Shopper confidence weak. India polished production steady but expected to decline over May summer vacation. Stable demand for round, 0.30 and 0.40 ct. D-F, IF-VVS diamonds. Antwerp and Israel quiet as dealers return from Easter and Passover breaks. Exhibitors preparing for June Las Vegas shows, with concerns that overseas companies will be absent. De Beers 1Q consolidated sales -44% YOY to $520M; miner predicts cautious demand at upcoming sights. IGI 1Q revenue +10% YOY to $36M, profit +12% to $16M. Bulgari expands Italy production facility. Luk Fook fiscal 4Q retail sales -2% YOY. Gold price breaks $3,500/oz.
Fancies:
Large fancy shapes doing better than rounds. Prices stable or increasing for 2 ct. and larger diamonds. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Emeralds, Radiants and Pears in 2.50 to 2.99 ct. sizes trading at significant premiums. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. 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.
