Market Comment

Trade Alert: The Rapaport Price List is based on New York diamond prices. Extreme discounts may be available in foreign markets not subject to tariffs and sanctions.

News:

Diamond markets in turmoil as US President Donald Trump announces 50% tariffs on Indian goods. Manufacturers ship diamonds to US ahead of Aug. 7 increase from 10% to 25%; 50% rate to go into effect Aug. 27. Large retailers seeking goods before duties spiral. Signet share price -4% since Jul. 31. US dealers with sought-after inventory gaining market power. Polished trading outside US frozen. Good sentiment at Mumbai IIJS reflects positive domestic outlook for Diwali (Oct. 20).

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. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.