Market Comment

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.