Trump’s election victory coupled with Republican control of Congress is expected to set the stage for improved economic conditions that will support increased demand for diamonds and jewelry. Lower taxes, higher domestic employment and the end of Obamacare will increase disposal income and encourage investment in local businesses. This will fuel new domestic economic growth.
“The diamond and jewelry trade will benefit as the new policies create a more prosperous middle class and greater numbers of wealthy consumers. Global uncertainty will also increase demand for investment diamonds as a store of wealth,” said Martin Rapaport Chairman of the Rapaport Group.