Weekly News Recap

Weekly Diamond Industry Buzz: A Sparkly Mix of News

Diamonds continue to captivate the world,?and this week's industry news brings a kaleidoscope of developments!?From consumer spending trends to dazzling design innovations,?here's what caught our eye:

• US Retail Sales Hold Steady:?Contrary to some predictions,?US retail sales remained flat in June compared to May.While growth is moderate,?this indicates stronger consumer sentiment than anticipated.?Importantly for the jewelry industry,?the clothing and accessories segment,?which includes diamonds,?showed a positive year-on-year increase.?

Read more on Rapaport

• India Seeks Direct Diamond Payments to Russia:?India's diamond industry is lobbying their government to establish a direct payment system with Russia.?The current sanctions from the US make transactions through China cumbersome and expensive.?This highlights the complex geopolitical landscape affecting the diamond trade.

?Read more on IDEX Online

• Corruption Concerns in Zimbabwe's Diamond Industry:?A veteran economist in Zimbabwe estimates that the country lost at least $20 billion in "disappeared" diamonds due to corruption.?This raises ethical concerns about responsible sourcing within the industry.

?Read more on IDEX Online

• The Cadillac Cut Takes Center Stage:?Unconventional diamond shapes are trending,?and the "Cadillac cut" is grabbing attention.?This pentagonal side stone adds a unique touch to engagement rings and other jewelry pieces.?

Read more on JCK Online

• Gem-Set Watches: Blurring the Lines of Jewelry and Timekeeping:?From camouflage patterns to mesmerizing emeralds,?high jewelry timepieces are making a bold statement.?These exquisite creations showcase the artistry of combining precious stones with watchmaking expertise.?

Read more on JCK Online

We hope you found this news roundup informative!?Let us know in the comments below what particularly interests you in the world of diamonds.?Stay tuned for more industry updates every Wednesday!

CALL OWL TODAY at 212-319-1250 for a private, discreet conversation on how you can leverage your jewelry assets to meet your cash needs.

You can also email us at [email protected] with any questions you may have.

Owl Financial Group - Respected and trusted by Jewelers and Manufacturers throughout the world.