The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
August 21, 2025
News:
Tariffs causing ongoing uncertainty ahead of Aug. 27, when duty on Indian goods set to rise from 25% to 50%. US-located diamonds more expensive than those overseas, with price gap widening. Strong premiums for specific oversizes popular in American market: 1.35 to 1.49 ct., 1.80 to 1.99 ct. and 2.50 to 2.99 ct. rounds and long fancies in F-H, VS2-SI2 categories. US inventory consists mainly of VS-SI goods, reflecting typical American preferences. Indian trade quieter due to tariffs, festivals and heavy rains. Rough market slow ahead of next week’s De Beers sight. De Beers makes cuts to its sales team. Dubai police foil theft of 21.25 ct. pink diamond worth $25M.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises are most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
United States
Consumer market stable. Independent jewelers seeking consignment goods. Wholesale trade seasonally slow. US dealers with salable diamonds are in strong position due to tariffs. Best items are rounds and long fancies in 2 ct. and larger, G-I, VS-SI categories. Many dealers taking vacation before Labor Day (September 1). Small diamonds in D-F, IF-VS qualities seeing some demand from high-end brands.
Belgium
Little trading during summer vacation. Low expectations for next week’s De Beers sight amid slowdown in rough market.
Israel
Activity down during summer break. Official bourse recess ends August 25. Dealers uncertain how to handle tariffs. Banks reducing credit lines for companies that have reduced business.
India
Local market slow due to tariffs and lack of overseas demand. Dealers seeking ways of shipping goods to US. Torrential rains impacting bourse attendance. Some workers reducing hours during Jain festival.
Hong Kong
Chinese consumers still reluctant to invest in diamonds. Hong Kong wholesale market picking up as dealers return from summer break, with demand improving in round, 0.30 to 1 ct., F-H, VS-SI diamonds. Long fancies selling. Traders planning for important Jewellery & Gem World show (September 15 to 21), but unclear how many Chinese buyers will attend.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
August 21, 2025
News:
Tariffs causing ongoing uncertainty ahead of Aug. 27, when duty on Indian goods set to rise from 25% to 50%. US-located diamonds more expensive than those overseas, with price gap widening. Strong premiums for specific oversizes popular in American market: 1.35 to 1.49 ct., 1.80 to 1.99 ct. and 2.50 to 2.99 ct. rounds and long fancies in F-H, VS2-SI2 categories. US inventory consists mainly of VS-SI goods, reflecting typical American preferences. Indian trade quieter due to tariffs, festivals and heavy rains. Rough market slow ahead of next week’s De Beers sight. De Beers makes cuts to its sales team. Dubai police foil theft of 21.25 ct. pink diamond worth $25M.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises are most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
Consumer market stable. Independent jewelers seeking consignment goods. Wholesale trade seasonally slow. US dealers with salable diamonds are in strong position due to tariffs. Best items are rounds and long fancies in 2 ct. and larger, G-I, VS-SI categories. Many dealers taking vacation before Labor Day (September 1). Small diamonds in D-F, IF-VS qualities seeing some demand from high-end brands.
Little trading during summer vacation. Low expectations for next week’s De Beers sight amid slowdown in rough market.
Activity down during summer break. Official bourse recess ends August 25. Dealers uncertain how to handle tariffs. Banks reducing credit lines for companies that have reduced business.
Local market slow due to tariffs and lack of overseas demand. Dealers seeking ways of shipping goods to US. Torrential rains impacting bourse attendance. Some workers reducing hours during Jain festival.
Chinese consumers still reluctant to invest in diamonds. Hong Kong wholesale market picking up as dealers return from summer break, with demand improving in round, 0.30 to 1 ct., F-H, VS-SI diamonds. Long fancies selling. Traders planning for important Jewellery & Gem World show (September 15 to 21), but unclear how many Chinese buyers will attend.
Previous Market Comments
Market Comment: June 11, 2026
Market Comment: June 4, 2026
Market Comment: May 28, 2026
Market Comment: May 20, 2026
Market Comment: May 14, 2026
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Previous Market Comments
Market Comment: June 11, 2026
Market Comment: June 4, 2026
Market Comment: May 28, 2026
Market Comment: May 20, 2026
Market Comment: May 14, 2026
Market Comment: May 7, 2026