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Diamond and Precious Metals News: Week In Review. 2/4/05
Rapaport Trade Newsletter reports this morning that U.S. retail jewelry demand is steady with much stronger demand for
better quality merchandise. Jewelers expecting strong sales this upcoming week leading up to Valentine's day on Saturday February 12th.
The Fancy Diamond shape market is improving with scarcity of two carat and
larger, good shape, well cut, medium to better quality, I+, SI1+. Princess cuts very hot, especially in SI qualities.
Cushions very strong across the board in 2ct.+. Heart Shapes surprisingly are making a very strong comeback. This shape has been dead for the past several years. Pear Shapes and Ovals selling very well.
There are shortages of larger, 2 ct.+ fine cut D-G, VS2-SI1's diamonds in all shapes, especially round brilliants.
Oversizes, e.g.; 1.25-1.49 carat, 1.60 to 1.99 carat in colors D-H and Clarities of VVS to SI-2 in fine Makes are in very high demand but limited supply and bringing significant price premiums. Shortages in these categories are expected to continue over the next several months.
Gold took a hit on Thursday 2/3/05, closing at $416.00 as speculation that IMF gold sales to fund third world debt clearance could come sooner rather than later, combined with Wednesday’s interest rate increase by the Fed. Long positions got spooked and triggered a sell-off to a 3-month lows for gold.
Platinum came along for the down ride losing $7 and closing Thursday 2/3/04 at $863.00. It has rebounded this morning to $868.00.
Platinum Jewelry in high demand.
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