United States: Some wholesalers have increased their inventories in the past few weeks but are working with much tighter margins since prices softened in September. Demand is focused on bread-and-butter goods, and there is reasonable demand for 0.75-carat to 1.25-carat, F-H, SI goods. Demand for rounds in general has slowed in the past month while there has been some improvement in fancy shapes. Retail activity remains slow as is expected for this time of the year.

Belgium: Polished trading remains soft as price uncertainties prevail. There are buyers in the market looking to take advantage of desperate sellers, but on the whole, suppliers are holding to their lower limits. Rough trading is very quiet with very little speculative buying taking place.

India: The usual pre-Diwali buzz is missing this year as local polished trading remains slow. Tight liquidity and concerns about the global economy continue to influence price uncertainty. There is an emphasis on cash selling and dealers are prepared to negotiate. Polished buyers are willing to work with existing inventories which appear to be sufficient to last through the Diwali festival, which begins on October 26. As a result, some smaller manufacturing units will start closing for their Diwali vacations earlier than usual. Activity is expected to remain slow as businesses generally close for about three weeks at the start of the festival.

Israel: Trading in Ramat Gan is subdued as uncertainties prevail and concern increases about fourth-quarter prospects. Dealers have adopted a wait-and-see approach as they assess the state of the industry post-Hong Kong show. Buyers are looking for goods they currently need to fill orders and are hesitant to purchase any excess goods as they anticipate further price declines.

China: Wholesale trading is very quiet as most businesses have closed for the National Day Golden Week festival, which began on October 1. Initial reports indicate good demand for gold jewelry as consumers recognize investment opportunities in the metal, while demand for diamond jewelry has remained steady.

Hong Kong: Diamond trading is slow due to the holiday period in China, as wholesalers generally take vacations during this period. Retail sales have been boosted by an influx of tourists from Mainland China during Golden Week. Jewelers are waiting to assess their sales this week before placing orders again.