Foreign Demand Putting Pressure on Supply

Market in brief: The U.S. market continues to feel supply pressure created by growth in overseas markets. In particular, sapphire prices have increased on strong activity in Asian markets. Dealers report that blue and pink sapphire in calibrated sizes of less than 3.5 mm are selling very well. Sales of yellow and orange sapphire are good. This season, consumers were expected to buy for color and not necessarily gem variety. The early trend is for specific colors, but retailers report that consumers are still conscious of gem varieties. For example, sapphire is stronger than lower-price spinel, and aquamarine is requested over topaz. Consumers want color, but in gems they are familiar with and assign value to. Diamond: 1/4 ct. round VS1 VS2 SI1 SI2

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