TAGS July tender presents $50m full range size goods ; secures around 70% sales

The July Tender received a solid level of interest with around 130 companies in attendance. While the global economies face ongoing challenges, the mood amongst buyers remained measured. Some shortages are appearing in inventories and demand remains steady, as per a press note from Trans Atlantic Gem Sales (TAGS).
Despite the apparent appetite to view goods, there is still a degree of fragility in the rough market in some quarters. This is likely resulting from a combination of uncertainty in the supply chain, the effects of worldwide inflation, a strong USD, and a general mood of caution amongst the world economies.
The leading consumer markets of US and Europe are reporting fair demand and polished prices have generally remained static during the past month.  However, the expected recovery in the Chinese market has failed to materialise and increasing Covid 19 cases threaten renewed lockdowns. The sanctions against Russian goods which came into effect in mid-March have begun to take effect with both US and Israel reporting reduced direct polished imports into the markets during the past month.
TAGS presented around $50m of goods in a full range of sizes, and secured sales of approximately 70% of the goods, Sales were made to 53 companies from all the major centres. Overall, prices in sizes -3grs held up well, 3-6grs performed less well as did the 2-4ct ranges. Single stones remain popular with specialist buyers.
Trans Atlantic Gem Sales next sales event takes place in Dubai from 17 to 23 August 2022.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished