There is cautious trading of polished goods due to recent financial turmoil, with cutters hoping for cheaper rough to enable a profitable fourth quarter holiday season however trading remains restrained, Rapaport reports. There is some concern that quality goods are becoming harder to replace due to the reduced manufacturing in recent months. Although dealers are returning to their office from summer breaks, they do not appear to be in a rush to trade.
Although there are hopes that the markets will pick up after September 1, as typically happens, expectations are low for the Hong Kong Jewellery and Gem Fair in mid-September. Demand from the Far East is poor, with the global market being supported by a stable United States and some European demand.