Margaret chan, Former Director of Health, Hong Kong

Diamond trading is starting to regain traction in Hong Kong with some demand from China.Hong Kong is mostly open for business, but concerns are mounting about renewed protests following new Chinese security laws. New York's 47th Street remains closed as other parts of the US slowly begin to open. US riots over police brutality are also creating concern. India is partially active again, while bourses in Belgium and Israel are operating under health and safety guidelines. Polished prices were stable in May amid minimal trading; business was limited to online platforms. The RapNet Diamond Index (RAPI™) for one-carat diamonds rose 0.2 per cent during the month, but has dropped 8.3 per cent since the beginning of the year.The slowdown in jewelry retail is affecting the rest of the market. Stores have reopened in many US states, offering virtual consultations and curbside pickup. Foot traffic remains down as shoppers favor online channels. Jewelers have enough inventory to satisfy short-term demand, at least until the holiday season. They are expected to focus their promotions on bridal, as well as classic diamond jewelry like solitaire necklaces and tennis bracelets. Manufacturers are trying to reduce supply. Miners' inventories have grown during the shutdown as rough sales have slumped. Mining compes are offering more goods on their digital platforms as travel restrictions remain in place. Some are relocating their sales to Antwerp while southern Africa and India remain on lockdown. The industry is starting to rethink its marketing message, moving to highlight diamonds as a symbol of values and emotional connections as people emerge from isolation. The new Natural Diamond Council (NDC), formerly the Diamond Producers Association (DPA), has an opportunity to reengage with younger consumers in an authentic and dynamic manner that is appropriate for today's tough market conditions.This story is provided by BusinessWire India. will not be responsible in any way for the content of this article (/BusinessWire India)( With inputs from ANI )

Margaret ChanFOLLOW

Margaret chan, Latest News

HBO and Sky's nuclear drama 'Chernobyl' takes a huge step towards the 2020 Virgin Media British Academy Television Awards and British Academy Television Craft Awards with sweeping 14 nominations. ...

Equity benchmark indices swung between gains and losses on Thursday but ended lower with private banks suffering the most on profit booking. ...

HSBC and Standard Chartered have given their backing to China's controversial national security law for Hong Kong. On Wednesday, ... ...

More than 3,000 riot officers will be deployed in Hong Kong on Thursday to enforce a ban against the ... ...

The United States on Wednesday said it will block Chinese airlines from flying into or out of the US starting on June 16, The New York Times reported. ...

Chief Executive Carrie Lam has slammed the United States for applying "double standards" regarding national security flagging the current unrest in America and contrasting it with how the US had sharply criticised police crackdowns on anti-government ...

Former Army chief General JJ Singh (retd) has said that the stand-off with China in Eastern Ladakh will not lead to war. ...

Diamond trading is starting to regain traction in Hong Kong with some demand from China. ...