Edahn Golan: Cautious Optimism As US Jewelry Retail Is Up, Rough Prices Down

02/10/2015 06:40

In his latest blog, industry analyst Edahn Golan, considering the upward trend in US Jewelry retail sales with August the 4th consecutive month of record sales, calls for cautious optimism for the global diamond industry. Cautious, because the increased sales aren't felt by the midstream just yet, as large inventories, falling stock markets and turmoil on the commodities market still loom, probably for some time to come, Golan says. Furthermore, Golan believes the renewed consumer interest could be explained by the price consumers are paying for jewelry. The general downward trend of the The Jewelry Consumer Price Index (JCPI), suggests prices might be at a point that draws customers back to the stores. Considering the upcoming De Beers Sight, Golan says rough prices have fallen significantly this year, pushed down further by the news that De Beers sold a large amount of its goods outside the sight below list prices, an evolution some consider as a sign the industry is on the path to recovery.