The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
January 15, 2026
News:
Market quiet amid soft prices in India. High gold prices (+6% to $4,608/oz. since Jan. 1) impact trading at Mumbai’s IIJS show, with consumers shifting to lighter jewelry. Dealers expect limited impact from synthetics in India. Manufacturers cautious following tough 2025 and amid tariff uncertainty. US Jan.-Oct. polished imports -48% YOY to $6.6B, Hong Kong Jan.-Sep. 2025 polished imports -1% to $8.5B. Angola 2025 rough sales +70% to 18M cts., value +21% to $1.8B, reflecting exports of low-value goods. Rough market watching for price changes at Jan. 19-23 De Beers sight. Petra finds 42 ct. blue diamond. Industry mourns passing of Louis Glick.
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
Dealers report decent holiday season. US consumer spending up 3.5% year on year in December, NRF reports. Market awaiting more sales data. Concerns about luxury retail after Saks Fifth Avenue owner files for bankruptcy protection.
Belgium
Market focusing on higher-value goods. Large diamonds, fancy colors and top-end diamonds in demand. Rough market cautious ahead of next week’s De Beers sight. Belgium 2025 polished exports down 23% at $6.2B.
Israel
Sales slow and sentiment low amid ongoing impact of US tariffs. Dealers awaiting news on trade deal. Israel 2025 polished exports down 22% at $1.46 billion after returns.
India
Exhibitors note sluggish traffic at IIJS Bharat – Signature show, with high gold prices impacting jewelry demand. Consumers moving to lighter-weight jewelry and lower gold purities. Diamond value in gold jewelry down due to rise in metal prices and decline in diamond prices, impacting retailer margins. Manufacturers cautious about export market following lab-grown competition, tariff challenges, ongoing weakness in China and oversupply of small rough. Buyers purchasing for specific orders only. Unclear if 2026 will bring recovery.
Hong Kong
Market trends steady, with 1.70 to 3 ct. diamonds moving. Gold demand rising ahead of Chinese New Year. Mainland seeing orders for 1 ct., VVS-VS diamonds. 0.30 to 0.50 ct. diamonds selling at deep discounts.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
January 15, 2026
News:
Market quiet amid soft prices in India. High gold prices (+6% to $4,608/oz. since Jan. 1) impact trading at Mumbai’s IIJS show, with consumers shifting to lighter jewelry. Dealers expect limited impact from synthetics in India. Manufacturers cautious following tough 2025 and amid tariff uncertainty. US Jan.-Oct. polished imports -48% YOY to $6.6B, Hong Kong Jan.-Sep. 2025 polished imports -1% to $8.5B. Angola 2025 rough sales +70% to 18M cts., value +21% to $1.8B, reflecting exports of low-value goods. Rough market watching for price changes at Jan. 19-23 De Beers sight. Petra finds 42 ct. blue diamond. Industry mourns passing of Louis Glick.
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
Dealers report decent holiday season. US consumer spending up 3.5% year on year in December, NRF reports. Market awaiting more sales data. Concerns about luxury retail after Saks Fifth Avenue owner files for bankruptcy protection.
Market focusing on higher-value goods. Large diamonds, fancy colors and top-end diamonds in demand. Rough market cautious ahead of next week’s De Beers sight. Belgium 2025 polished exports down 23% at $6.2B.
Sales slow and sentiment low amid ongoing impact of US tariffs. Dealers awaiting news on trade deal. Israel 2025 polished exports down 22% at $1.46 billion after returns.
Exhibitors note sluggish traffic at IIJS Bharat – Signature show, with high gold prices impacting jewelry demand. Consumers moving to lighter-weight jewelry and lower gold purities. Diamond value in gold jewelry down due to rise in metal prices and decline in diamond prices, impacting retailer margins. Manufacturers cautious about export market following lab-grown competition, tariff challenges, ongoing weakness in China and oversupply of small rough. Buyers purchasing for specific orders only. Unclear if 2026 will bring recovery.
Market trends steady, with 1.70 to 3 ct. diamonds moving. Gold demand rising ahead of Chinese New Year. Mainland seeing orders for 1 ct., VVS-VS diamonds. 0.30 to 0.50 ct. diamonds selling at deep discounts.
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
Stay Up-to-Date with Rapaport Industry News and Analysis
Sign up for Rapaport Newsletters
Get the trade’s most trusted news, analysis and data delivered to your inbox daily.
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