The Lowdown About Hong Kong Show and the Diamond Show!

Stu Hermans

Since our traveling is done for the month, and with Bozz Scaggs
playing in NYC this week (hopefully singing my favorite song
"Lowdown"), I want to give you the "Lowdown" about Hong Kong and the
European markets. Let me begin with the lowdown about Hong Kong.

My sources tell me that the Hong Kong show was slow. Prices for
diamonds are still extremely strong. As we have stated before, with the
European market in a state of flux and the American market slow, the
trading for this sector of the world is slow. But since the supply of
VS2-I1 diamonds is very low, the prices are staying strong.

In the past few years with the American market slow, we have turned
to our friends in the Far east to try to pull us out of these doldrums.
However, that didn't happen. Usually our friends from India are strong
buyers, but with their currency being devalued by 20 percent they are
certainly not buying.

Next we turn to our old dependable Chinese market. With the
slowdown in their market and real estate in a state of flux they were
also slow.

As we have mentioned previously, friends in the Arab countries are
back and buying Fancy colors, especially Canary diamonds. So, in
fact, Canary diamond prices are rising.

So right now the world is in a state of flux. Supply is low,
demand is down, but the prices still stay very strong. Our next blog
will be from Israel and the world famous diamond exchange in Ramat
Gan.. see you then!