Market Comment

Note:

The Rapaport Price List reflects New York high cash asking prices. The diamond market has bifurcated in many ways, including because of tariffs, with a growing gap between US and Indian prices.

News:

Market split continues, with larger goods performing better than smaller goods, and fancies doing better than rounds. EU-India trade deal: EU removes tariffs on Indian jewelry, India reduces duties on European polished diamonds from 5.5% to 2.5%. LVMH 2025 jewelry and watch sales -1% to $12.6B, profit -2% to $1.8B. Angola 2025 polished exports +107% to $110M, volume +127% to 23,300 cts. Gemstone market in good shape ahead of Tucson fairs. Gold price breaches $5,500/oz.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds 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.