International News
US jewellery, watches sales up by 4.4 per cent year-on-year
Sales of watches and jewelry in the US showed further signs of growth in December 2024, up 4.4 per cent year-on-year, according the latest figures from the US Department of Commerce. But there’s been a marked slowdown since the 10 per cent increases of last September and October.
November saw sales up by just 3.0 per cent, revised down from 5.8 per cent based on actual through-the-till transactions rather than estimates. October has been revised up from 9.7 per cent to 10.0 per cent.
The average monthly year-on-year growth for the full year is 5.4 per cent, so December was little below par. Having said that, it was the 15th consecutive month of growth after a long period (the end of 2022 and much of 2023) of falling sales.
International News
Diamond Price Gains In Sept Led By Small, High-Quality Stones
US Retail Demand Strengthened, Particularly For 1–2 Ct (F–I, VS2–SI2) and 2+ Ct Stones. Lower-Quality Smaller Goods Remain Under Pressure From Lab-Grown Diamond Competition.
Diamond prices continued their upward trajectory in September—traditionally a slow month—driven by reduced production and rising demand. Round diamonds consistently outperformed fancy shapes.
US Market & Trading Sentiment: US retail demand strengthened, particularly for 1–2 ct (F–I, VS2–SI2) and 2+ ct stones. Lower-quality smaller goods remain under pressure from lab-grown diamond competition. Holidays in the US, Belgium, Israel, and India temporarily slowed regional trading.
Trade Show Trends (Hong Kong JGW): Show results were mixed: strong demand for finished jewelry and 2+ ct natural diamonds offset weak interest from Chinese buyers and sluggish movement in smaller, low-clarity goods.
Corporate & Supply Restructuring:
- De Beers is set to acquire Mountain Province’s 49% stake in the Gahcho Kué mine under a debt-restructuring agreement.
- Anglo American’s ongoing process to sell De Beers maintains broad market uncertainty, while recent De Beers rough sights indicate cautious buying.
- Petra Diamonds is evaluating strategic options, including potential asset sales.
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