The diamond market is an uncertain market with numerous ups and downs. With inflation looming and the holiday season approaches let us have a look at the diamond market, diamonds in demand, and the changed buying behavior of the customers.

Diamond Demands Around the World | October 2022

The diamond market is an uncertain market with numerous ups and downs. With inflation looming and the holiday season approaches let us have a look at the diamond market, diamonds in demand, and the changed buying behavior of the customers.
Similar to the previous month's demand, the month of October too had its fair share of market ups and downs.
Let us know in detail.

The diamond trading in October saw a slow demand slump. As the demands softened, dealers lacked the urgency to buy expecting a further price drop. The diamond trade was uncertain as the prices declined. Diamond dealers were expecting major business during the holiday season, but the Jewish holidays and Diwali slowed down the business even further. Though the USA diamond dealers are optimistic about the upcoming Christmas and New Year despite high inflation and economic declines.

DIAMOND DEALERS IN BELGIUM

There is a mixed sentiment regarding the diamond demands. Diamond jewellery saw an uprise in sales yet loose diamonds did not have much business. Customers are favoring high-end jewellery and going for large and fancy diamonds encrusted in jewellery.
Diamond dealers in Belgium are very positive about the Jewish holiday season in Hanukkah and expect a rise in loose diamond sales.

DIAMOND DEALERS IN ISRAEL

Diamond buyers are skeptical about buying diamond inventory. Large and fancy diamond dealers in Israel are doing well as the demand for luxury diamond jewellery rise during the approaching holiday season. An uprise in the demand for fancy-shaped diamonds and a low streak of sales of 0.50 ct. diamonds. Steady demand for stones below 0.18 ct. diamonds.

Polished inventory is still abundant. RapNet's diamond volume has surpassed 1.8 million stones for the first time. Manufacturers avoided rough buying ahead of Diwali, which began on October 24, and factories were closed for two to three weeks. Diamond dealers relaxed purchasing conditions at its October 31 sight by allowing sightholders to sell back 20% of their rough allocations above 1 carat rather than the usual 10%.

Restraint in the rough market reflects caution in polished, where stones below 0.18 carats are selling better than 1 carat and larger. Indian suppliers raised discounts on certified diamonds to bolster sales and raise liquidity before Diwali, but dealers were afraid to do business while prices continued to decline.

DIAMOND DEALERS IN INDIA

Activity is low due to the Diwali holiday and weak Chinese demand. As the holidays approach, manufacturers anticipate an increase in US orders. Consistent demand for round diamonds weighing 0.50 to 0.90 carats and graded F-G, VS-SI. The melee segment is slowing down. Polished production is at a low level; Surat factories will reopen from their holiday break around November 15th. Due to market uncertainty and seasonal trends, there is some selling.

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