Gem Pricing Report

Market in brief: The Conference Board reports that its Consumer Confidence Index fell almost seven points in May, to 103.2, from a revised reading of 109.8 in April. Lynn Franco, director of the Conference Board Consumer Research Center, stated, “Apprehension about the short-term outlook for the economy, the labor market, and consumers’ earning potential has driven the expectations index down to levels not seen since the aftermath of the hurricanes.” The decline is no surprise as increasing costs and stagnating income levels cool consumer spending. However, such cycles also create a buyer’s market: Producers know inventories don’t earn profit in the safe. Market conditions are favorable for buying colored stones. Retailers can obtain advantageous terms on most popular gem products, especially pearls, which remain hot in international gem trade. Production has been declining i
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