The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
December 25, 2025
News:
Retailers satisfied with holiday sales. Nov. 1-Dec. 21 US jewelry spending +1.6% YOY, Mastercard reports. Dealers saw last-minute orders for US-located diamonds as retailers keep tight inventories. Trading tapers off as vacation begins. Price trends stable in polished. Solid investment demand for gold amid price jump to nearly $4,500/oz. Alrosa reports profitable 2025, estimates FY production of 29.7M cts. vs. 33M cts. in 2024. India to become 2026 Kimberley Process chair. Israel nears deal to exempt diamonds from US tariffs. EU requires importers of 0.50 ct. and larger diamonds to include statement of non-Russian origin from Jan. 1, 2026. Rapaport wishes everyone a happy and peaceful New Year.
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 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. 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
Retailers complete busy holiday season. Sales were steady. Dealers waiting for memo results. Long oval-shaped diamonds selling well. Tennis bracelets and necklaces popular in F-H, VS-SI qualities. Gold-price jump supporting investment demand. Trading shutting down for Christmas- New Year period.
Belgium
Bourses closed until January 5. Sentiment mixed. 3 ct. and larger stones doing well. Concerns about impact of synthetics in US market and sale of De Beers.
Israel
Trading slow due to recent Hanukkah festival and because US peak season is over. Israel working toward trade deal to exempt diamonds from US tariffs.
India
Market sluggish during Christmas vacation in US and Europe. No volume business as buyers purchasing on demand only. Exporters waiting for news on US tariffs. Domestic market has slowed due to high gold prices, supporting shift to synthetic diamonds.
Hong Kong
Market stable. Steady demand for 2 to 5 ct., colorless and yellow, VS diamonds in round and long fancy shapes.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
December 25, 2025
News:
Retailers satisfied with holiday sales. Nov. 1-Dec. 21 US jewelry spending +1.6% YOY, Mastercard reports. Dealers saw last-minute orders for US-located diamonds as retailers keep tight inventories. Trading tapers off as vacation begins. Price trends stable in polished. Solid investment demand for gold amid price jump to nearly $4,500/oz. Alrosa reports profitable 2025, estimates FY production of 29.7M cts. vs. 33M cts. in 2024. India to become 2026 Kimberley Process chair. Israel nears deal to exempt diamonds from US tariffs. EU requires importers of 0.50 ct. and larger diamonds to include statement of non-Russian origin from Jan. 1, 2026. Rapaport wishes everyone a happy and peaceful New Year.
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 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. 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
Retailers complete busy holiday season. Sales were steady. Dealers waiting for memo results. Long oval-shaped diamonds selling well. Tennis bracelets and necklaces popular in F-H, VS-SI qualities. Gold-price jump supporting investment demand. Trading shutting down for Christmas- New Year period.
Bourses closed until January 5. Sentiment mixed. 3 ct. and larger stones doing well. Concerns about impact of synthetics in US market and sale of De Beers.
Trading slow due to recent Hanukkah festival and because US peak season is over. Israel working toward trade deal to exempt diamonds from US tariffs.
Market sluggish during Christmas vacation in US and Europe. No volume business as buyers purchasing on demand only. Exporters waiting for news on US tariffs. Domestic market has slowed due to high gold prices, supporting shift to synthetic diamonds.
Market stable. Steady demand for 2 to 5 ct., colorless and yellow, VS diamonds in round and long fancy shapes.
Previous Market Comments
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
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Previous Market Comments
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
Market Comment: April 30, 2026