RAPAPORT… Diamond exhibitors ended the first day of the JCK Las Vegas show confident that a stable U.S. market would compensate for weaknesses elsewhere. Buyers were focused on gaining a feel for prices and are expected to make stronger offers for goods during the weekend.
Dealers noted that the market has returned its attention to the U.S. as Europe remains weak and demand in China has slowed due to global economic uncertainties. Many indicated tough conditions in the manufacturing and trading centers of India, Belgium and India.
There was similar sentiment among retail exhibitors at the Couture show, a high-end brand-focused show that started on Thursday. Chris Casey, vice president of Couture, noted that much of the consumer confidence that went away during the recession has returned. “There is increasing enthusiasm in the market and it seems that the focus has turned back to the security that the U.S. market provides as we are seeing a hiccup in the growth markets of India and China,” Casey said.
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Below is an excerpt from an article on Diamonds.net related to the state of the jewelry industry in the United States. What do you think? Has the market rebounded?