An uncertain second half beckons for diamonds

Friday, July 12, 2024 | 320 Views |

Buzzing trade: The Las Vegas JCK Show is an important barometer of trends such as demand in the diamond industry PIC: MBONGENI MGUNI

The country’s single most important commodity – diamonds – goes into the second half of the year mired in uncertainty. US interest rates and a spirited holiday season campaign will underpin recovery for the stones. Staff Writer, MBONGENI MGUNI reports

As bad as the diamond numbers are, some analysts on the retail end of the spectrum are seeing some positive signs.

And the retail end is where the light is required. The slump that caused a 5.3% contraction in the economy this year, largely traces back to oversupply of diamonds in the retail market from early 2023.

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