(IDEX Online) - The gap between rounds and fancies widened during August. Rounds saw almost wall-to-wall price drops among some goods, such as 1.50-cts to 1.99-cts. Fancies, by contrast, saw a mix of increases, decreases and no-changes, as buyers sought cheaper goods.

Caution persists across the pipeline. Inventories are high, demand is weak and prices are falling. India's exports in July suffered a 39 per cent slump, year-on-year. Israel's rough trade was down by around 45 per cent for the same month. China's post-Covid bounce back hasn't happened.

Sarine, the diamond tech company and a barometer of activity in the trade, reported a first half revenue drop of 24 per cent drop, saying inflation and interest rates continued to take their toll on the US market.

And the race to the bottom accelerates among lab growns. One US jeweler is literally giving away lab growns - no purchase required - to make a point.

HIGHLIGHTED CHANGES

Rounds

1.00-1.24 ct. D-I / VVS1-VS2 -2-5.5%

1.50-1.99 ct. E-J / IF-SI3 -1-5%

4.00-4.99 ct. F-I / VS1-SI2 -0.5-4.5%, I-N / IF-VVS2 +1-2% 

Fancy Cuts

1.50-1.99 ct. E-J / SI1-2 -1.5-3.5%

4.00-4.99 ct. J-M / VVS1-2 +1-3.5%, E-H / IF-VVS1 -0.5-4%

5.00-5.99 ct. D-M / IF +0.5-4%, E-G / VS1-2 -1-3.5%

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