Diamond News
Polished prices firming with improved trading conditions expected before holiday season. Oil hits one-year high ($81/barrel) as U.S. dollar continues to weaken (euro/$1.50). India’s Diwali jewelry sales meet expectations with manufacturers anticipating rise in domestic demand. Christie’s NY sells $46.5 mil. (85% by lot) including emerald-cut, 32.01 cts., D, flawless Annenberg Diamond for $7.7 mil. ($240,503/ct). Sotheby’s NY sells $13.8 mil. (84% by lot), with 29.53 ct., D, (type IIa) for $3.5 mil. ($118,000 p/ct.). ALROSA Oct. sales $355 mil. Gem Diamonds 3Q rough sales -9% to $51.5 mil. BHP Billiton 1Q diamond production +1% to 780,000 cts. LVMH 3Q sales -3% to $6.2 bil., jewelry sales -22% to $279 mil. India’s Sept. polished exports +11% to $1.8 bil., rough imports -25% to $689.6 mil.