The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
March 12, 2026
News:
Market split continues, with 2 ct. and larger stable. Middle East war impacting sentiment and exports. Flights in and out of Dubai and Israel remain limited. Signet fiscal 4Q sales flat YOY at $2.34B-$2.35B, average selling price up 4%-5%; CEO JK Symancyk foresees growth in higher-quality natural diamonds, expansion of lab-grown in fashion jewelry. Brilliant Earth 4Q sales +4% to $124M, loss of $1.3M vs. profit of $2.6M in 4Q 2024. South Africa regulator imposes rules to promote local manufacturers’ rough access. Industry awaiting news on tariff refunds after trade court calls on US customs to repay duties it collected under old tariff regime. Tom Moses to step down as GIA lab chief.
Fancies:
Long fancy shapes such as Ovals, Marquises and Emeralds doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquise is most expensive fancy shape. 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. Indian prices for 0.30 to 0.79 ct. Ovals and Pears softening, except for ideal long models. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
United States
Large wholesalers seeing steady memo and inventory demand from retailers, especially in 2 ct.-plus sizes. Rough prices firming in large goods. Small dealers struggling.
Belgium
Overall sentiment positive despite immediate impact of Middle East war. Industry showing concern about access to goods as conflict disrupts Dubai market. Steady movement across size categories. Belgium February polished exports up 7% at $840.7 million, rough imports down 17% at $204.5 million.
Israel
Activity low due to war. Not many traders attending diamond exchange. Airspace closed other than for specific flights.
India
Mood cautious amid slow overseas demand. Domestic market slightly improved. Geopolitical tensions disrupting trade. Buyers purchasing only for specific orders. Dossiers weak. Mixed reports from Hong Kong shows, with 2 ct. and larger moving well and jewelry doing better than loose.
Hong Kong
Industry reflecting on disappointing Hong Kong shows and lack of Middle East buyers there. Diamond section mostly quiet. Long fancies moving well in 2 ct. and larger.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
March 12, 2026
News:
Market split continues, with 2 ct. and larger stable. Middle East war impacting sentiment and exports. Flights in and out of Dubai and Israel remain limited. Signet fiscal 4Q sales flat YOY at $2.34B-$2.35B, average selling price up 4%-5%; CEO JK Symancyk foresees growth in higher-quality natural diamonds, expansion of lab-grown in fashion jewelry. Brilliant Earth 4Q sales +4% to $124M, loss of $1.3M vs. profit of $2.6M in 4Q 2024. South Africa regulator imposes rules to promote local manufacturers’ rough access. Industry awaiting news on tariff refunds after trade court calls on US customs to repay duties it collected under old tariff regime. Tom Moses to step down as GIA lab chief.
Fancies:
Long fancy shapes such as Ovals, Marquises and Emeralds doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquise is most expensive fancy shape. 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. Indian prices for 0.30 to 0.79 ct. Ovals and Pears softening, except for ideal long models. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
Large wholesalers seeing steady memo and inventory demand from retailers, especially in 2 ct.-plus sizes. Rough prices firming in large goods. Small dealers struggling.
Overall sentiment positive despite immediate impact of Middle East war. Industry showing concern about access to goods as conflict disrupts Dubai market. Steady movement across size categories. Belgium February polished exports up 7% at $840.7 million, rough imports down 17% at $204.5 million.
Activity low due to war. Not many traders attending diamond exchange. Airspace closed other than for specific flights.
Mood cautious amid slow overseas demand. Domestic market slightly improved. Geopolitical tensions disrupting trade. Buyers purchasing only for specific orders. Dossiers weak. Mixed reports from Hong Kong shows, with 2 ct. and larger moving well and jewelry doing better than loose.
Industry reflecting on disappointing Hong Kong shows and lack of Middle East buyers there. Diamond section mostly quiet. Long fancies moving well in 2 ct. and larger.
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