MARKET INTELLIGENCE 52 | JNA May/June 2023 A previous edition of Jewellery & Gem ASIA Hong Kong 往届寰亚盛会 | 六月香港珠宝首饰展览会 Fine jewellery set by Diamrusa Ltd Diamrusa Ltd的高级珠宝套装 Industry stakeholders are counting on markets fully reopening to bolster demand and support long-term business recovery. 行业持份者预料，市场全面重启将刺激需求及支持长远复苏。 | Bernardette Sto. Domingo 杜明高 and Olivia Quiniquini 程爱莉 | power market resurgence 珠宝展为市场复苏提供动力 Prospects are bright in the global jewellery and gemstone sector as traders can once again connect, interact and transact at in-person B2B exhibitions. And with borders reopening and markets lifting travel restrictions, coupled with pent-up demand, the industry is clearly on the mend. Solid and lasting recovery, however, will not happen overnight, according to stakeholders. Prices of raw materials, which have skyrocketed by around 30 per cent to 80 per cent by the first quarter of 2023, could deter growth as buyers remain cautious and reluctant to purchase goods at current rates. Traders interviewed by JNA said it may take time for the market to get used to new prices, and some are hoping for a price correction by mid-year. Jewellery manufacturers, meanwhile, observed that consumers are gravitating towards lighter and smaller gold jewellery pieces while fine diamonds and gems alongside luxury jewellery will continue to have a strong following among more affluent buyers. Market optimism likewise swells on the return of physical jewellery and gemstone fairs, which offer massive opportunities for reconnection and resumption of businesses. Jewellery fairs
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