The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
October 26, 2023
News: Rapaport US Diamond Protocol for restricting US imports of sanctioned Russian diamonds will be released Tuesday, Oct. 31, on rapaport.com/sanctions. US retailers finalizing purchases before India’s Diwali holiday, which begins Nov. 12. Weak demand at De Beers sight amid Indian freeze on rough imports. De Beers 3Q sales -19% to 7.4M cts., production -23% to 7.4M cts. Botswana president warns of growing threat from synthetic diamonds, calls them microwave diamonds.
Fancies: Fancy market slowing. Prices falling, but less sharply than for rounds. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Goods with medium and short ratios weak. Prices of square Cushions falling amid low demand and high inventories. Marquise prices holding up following drop in supply. 0.30 ct. doing well. Orders down for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and hard to sell.
Country Comments
United States
Jewelers focusing on holiday season, with expectations for decent but not great sales. Retailers buying on memo. Round, 1 to 2 ct., H-J, SI2-I1 goods under pressure from synthetics. Fancy shapes doing better. Dealers looking for bargains as Indian manufacturers reduce prices and get ready to close for Diwali.
Belgium
Some movement in VS and higher clarities; SIs weak. Fancy shapes stable. Demand focusing on 3X goods with no fluorescence. Rough sector slow. Traders hope India’s two-month moratorium on rough imports will help global market.
Israel
Bourse quiet amid Gaza war. Small companies struggling. Market slow and prices falling. Industry members mourning relatives and friends lost in Hamas terror attacks and ongoing fighting.
India
Surat factories preparing to shut for Diwali, but sales offices likely to remain open. Some orders for VVS and VS goods following price drop. Domestic consumers supporting market during wedding and festive season. Sentiment weak as sellers reduce prices to close deals. Lab-grown impacting demand for natural diamonds
Hong Kong
Market quiet as regional economy remains weak. Prices on downward trend; sales difficult. Moderate pickup in local consumer demand ahead of holidays and as government stimulates spending. Mainland demand sluggish.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
October 26, 2023
News: Rapaport US Diamond Protocol for restricting US imports of sanctioned Russian diamonds will be released Tuesday, Oct. 31, on rapaport.com/sanctions. US retailers finalizing purchases before India’s Diwali holiday, which begins Nov. 12. Weak demand at De Beers sight amid Indian freeze on rough imports. De Beers 3Q sales -19% to 7.4M cts., production -23% to 7.4M cts. Botswana president warns of growing threat from synthetic diamonds, calls them microwave diamonds.
Fancies: Fancy market slowing. Prices falling, but less sharply than for rounds. Longer Ovals, Pears, Radiants and Cushions bringing higher prices than shorter stones. Goods with medium and short ratios weak. Prices of square Cushions falling amid low demand and high inventories. Marquise prices holding up following drop in supply. 0.30 ct. doing well. Orders down for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and hard to sell.
Country Comments
Jewelers focusing on holiday season, with expectations for decent but not great sales. Retailers buying on memo. Round, 1 to 2 ct., H-J, SI2-I1 goods under pressure from synthetics. Fancy shapes doing better. Dealers looking for bargains as Indian manufacturers reduce prices and get ready to close for Diwali.
Some movement in VS and higher clarities; SIs weak. Fancy shapes stable. Demand focusing on 3X goods with no fluorescence. Rough sector slow. Traders hope India’s two-month moratorium on rough imports will help global market.
Bourse quiet amid Gaza war. Small companies struggling. Market slow and prices falling. Industry members mourning relatives and friends lost in Hamas terror attacks and ongoing fighting.
Surat factories preparing to shut for Diwali, but sales offices likely to remain open. Some orders for VVS and VS goods following price drop. Domestic consumers supporting market during wedding and festive season. Sentiment weak as sellers reduce prices to close deals. Lab-grown impacting demand for natural diamonds
Market quiet as regional economy remains weak. Prices on downward trend; sales difficult. Moderate pickup in local consumer demand ahead of holidays and as government stimulates spending. Mainland demand sluggish.
Previous Market Comments
Market Comment: May 1, 2025
Market Comment: April 24, 2025
Market Comment: April 17, 2025
Market Comment: April 10, 2025
Market Comment: April 3, 2025
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Previous Market Comments
Market Comment: May 1, 2025
Market Comment: April 24, 2025
Market Comment: April 17, 2025
Market Comment: April 10, 2025
Market Comment: April 3, 2025
Market Comment – Mar. 27, 2025