The dog days of summer should soon segue into the brisk business of fallThe U.S. gem market is in the midst of its typical summer slowdown. In the diamond market, dealers report that business is consistent with ­expectations for the season. Demand remains concentrated on well-made rounds and ovals in 0.5 ct. to 1 ct. sizes, but overall trading levels are modest. Tight margins continue to be a concern, especially given the extent to which retail ­jewelers are relying on memo goods as opposed to investing in goods to fill their showcases. Colored stone dealers are reporting similarly soft conditions. There are, however, some bright spots as colored stone producers continue to report good demand ahead of this month’s Hong Kong Jewellery & Gem Fair. ­Aquamarine, lavender spinel, pink spinel, tsavorite garnet, red and copper bearing tourmalines, emerald, and sapphire are just so