Strong Jewelry Orders, Diamond Sells Fair at IIJS
August 06, 11
(IDEX Online News) – The halls of the IIJS fair ground are full this weekend. Buyers, predominantly Indians, are showing great interest in the diamond jewelry offerings and jewelers' booths are full.
Indian retailers are expecting good business in the near future, expressing their confidence in buying a wide range of jewelry items.
The booths of loose diamond traders were less active, reflecting concerns that polished diamond prices may have gone too far. The sentiment is so strong that rough prices softened in response.
In the days just before IIJS opened, polished prices declined by about 3 percent across the board. Now traders are trying to hold on to those prices, however it is not clear how long that would last.
Large demands are noted for -2 and stars. After traders were willing to let go of 2-3 percent, these items are selling very well.
For larger goods, particularly 1-carat and larger, buyers are asking for a 7 percent discount, which the wholesalers are unwilling to do.
Many traders are hoping that the jewelry business at the show will continue, knowing that with large orders jewelry manufacturers will turn to the diamond suppliers with large orders.
The one issue on everybody's mind is the news on the fall of the stock markets in Europe and
IIJS closes on Monday August 8.
 The jewelry halls of IIJS were packed with buyers |