Demand migrates to smaller goods as De Beers tightens the pipeline

At the July sales cycle De Beers cut official rough prices and narrowed its sightholder roster from roughly 70 to 45–50. The primary pipeline is consolidating into fewer hands — fewer shock absorbers along the chain.

The RAPI is split this month: 0.50ct up 0.85% while 1ct slipped 0.34%. Demand is returning first to smaller, faster-turning goods rather than larger stones.

Gold retreated 2.4% over the month to $4,114/oz, and the shekel held steady near 3.01 to the dollar (+0.26% on the week). A calm macro backdrop eases pressure on inventory financing costs.

De Beers moving official prices toward secondary-market levels removes a psychological anchor the trade has leaned on for years; the fixed premium between primary and secondary goods can no longer be assumed.

Vicenzaoro opens September 4 in Vicenza, the autumn season's first major gold and jewelry event.