The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
July 23, 2026
News:
Prices of round, 0.30 to 0.69 ct. diamonds continuing to recover. Dealers reporting improvement in 1 ct. commercial goods. Trading hubs slowing down for summer. US wholesale steady despite seasonal lull. Anglo American reportedly picks Gareth Penny-led consortium as top De Beers bidder. De Beers sees estimated 1H loss; 2Q sales -44% YOY to $665M. Prices increase for small, low-quality rough at Okavango auction. US imposes fresh 25% tariffs on Brazilian goods, 50% on Canada; impact on diamonds and gemstones unclear. Swatch Group 1H jewelry and watch sales +2% to $3.6B. Luk Fook, Chow Sang Sang report sales growth in April-June quarter. Indian market optimistic for IIJS (Aug. 5-10).
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.
Country Comments
United States
Market steady during summer. Demand for round, 1 to 1.99 ct., G-J, VS2-SI2 goods solid, with SI2 particularly consistent. Fancies outperforming rounds. Old euros and old miners popular, with strong interest from retail jewelers. Some dealers believe princess cuts are making a comeback.
Belgium
Little activity during vacation period. Overall confidence positive. Shortage of goods in Antwerp pushing buyers toward India and larger suppliers. Trade preparing for Vicenzaoro show (September 4 to 8).
Israel
Market quiet due to extended summer holidays. De Beers to hold auctions in Israel. Country’s first-half polished exports down 22% year on year at $625.7 million after returns, with rough imports falling 36% to $208.3 million.
India
Sentiment positive following supply cuts and rising confidence in natural diamonds. US is most reliable export market, with good sales of 1 to 1.99 ct., G-J, VS2-SI2 rounds thanks to tight inventory and attractive prices. Reports of consumers shifting back from synthetics to 1 ct. SIs. Domestic demand improving ahead of IIJS show (August 5 to 10) and Diwali. 2 ct. and larger diamonds moving well, as are long fancy shapes.
Hong Kong
Trading better than last year, driven by investment buyers and demand from Chinese tourists in Hong Kong. Best categories are round, 1 to 2.99 ct., D-G, IF-VS2, 3X diamonds with no fluorescence, and investment-grade round, 3 to 5 ct., D-F, VVS1-VS1 goods. Ovals and pears popular. Commercial rounds under 1 ct. weak amid competition from synthetics. Buyers only purchasing items they can resell immediately.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
July 23, 2026
News:
Prices of round, 0.30 to 0.69 ct. diamonds continuing to recover. Dealers reporting improvement in 1 ct. commercial goods. Trading hubs slowing down for summer. US wholesale steady despite seasonal lull. Anglo American reportedly picks Gareth Penny-led consortium as top De Beers bidder. De Beers sees estimated 1H loss; 2Q sales -44% YOY to $665M. Prices increase for small, low-quality rough at Okavango auction. US imposes fresh 25% tariffs on Brazilian goods, 50% on Canada; impact on diamonds and gemstones unclear. Swatch Group 1H jewelry and watch sales +2% to $3.6B. Luk Fook, Chow Sang Sang report sales growth in April-June quarter. Indian market optimistic for IIJS (Aug. 5-10).
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.
Country Comments
Market steady during summer. Demand for round, 1 to 1.99 ct., G-J, VS2-SI2 goods solid, with SI2 particularly consistent. Fancies outperforming rounds. Old euros and old miners popular, with strong interest from retail jewelers. Some dealers believe princess cuts are making a comeback.
Little activity during vacation period. Overall confidence positive. Shortage of goods in Antwerp pushing buyers toward India and larger suppliers. Trade preparing for Vicenzaoro show (September 4 to 8).
Market quiet due to extended summer holidays. De Beers to hold auctions in Israel. Country’s first-half polished exports down 22% year on year at $625.7 million after returns, with rough imports falling 36% to $208.3 million.
Sentiment positive following supply cuts and rising confidence in natural diamonds. US is most reliable export market, with good sales of 1 to 1.99 ct., G-J, VS2-SI2 rounds thanks to tight inventory and attractive prices. Reports of consumers shifting back from synthetics to 1 ct. SIs. Domestic demand improving ahead of IIJS show (August 5 to 10) and Diwali. 2 ct. and larger diamonds moving well, as are long fancy shapes.
Trading better than last year, driven by investment buyers and demand from Chinese tourists in Hong Kong. Best categories are round, 1 to 2.99 ct., D-G, IF-VS2, 3X diamonds with no fluorescence, and investment-grade round, 3 to 5 ct., D-F, VVS1-VS1 goods. Ovals and pears popular. Commercial rounds under 1 ct. weak amid competition from synthetics. Buyers only purchasing items they can resell immediately.
Previous Market Comments
Market Comment: July 16, 2026
Market Comment: July 9, 2026
Market Comment: July 2, 2026
Market Comment: June 25, 2026
Market Comment: June 18, 2026
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Previous Market Comments
Market Comment: July 16, 2026
Market Comment: July 9, 2026
Market Comment: July 2, 2026
Market Comment: June 25, 2026
Market Comment: June 18, 2026
Market Comment: June 11, 2026