Market Comment

News:

1 ct. demand picking up and supply falling, but prices not recovering. Indian sentiment improving. US wholesale active despite summer vacation. India’s Mehul Shah elected WFDB president at eventful World Diamond Congress in Singapore. Israel Diamond Exchange rejoins WFDB. De Beers to pause production at Venetia mine, reflecting weak market for small, low-value diamonds. Canada’s Ekati mine to close. Lucara finds 1,305 ct. diamond, its 10th over 1,000 ct. Belgium 1H polished exports +18% YOY to $3.7B. Dubai 2025 polished trading up c.25% to $18.7B. Richemont fiscal 1Q sales at jewelry maisons (Cartier, Van Cleef) +21% to $5.4B. Rapaport Auctions holds first diamond viewing in India.

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. Marquise most expensive fancy shape. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Antique cuts and styles hot. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.