The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 1, 2025
News:
Market quiet amid tariff uncertainty and seasonal slowdown. Dealers gradually returning from Easter and Passover holidays. India preparing to close for May summer break. US dealers with inventory are seeing steady orders from retailers. Sales slow in overseas trading centers. Low demand and stable prices expected at next week’s De Beers sight. Christie’s removes modified pear brilliant, 23.24 ct., fancy-vivid-blue, VS2 Golconda Blue diamond from Geneva auction. NRF predicts $6.8B in Mother’s Day jewelry spending. JBT reports 1Q US jewelry business closures +19% YOY to 212. Rapaport Group names Dan Mano as CEO. Sign up for the Rapaport JCK Breakfast at rapaport.com/jck25-breakfast.
Fancies:
Large fancy shapes doing better than rounds. Prices stable or increasing for 2 ct. and larger diamonds. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Emeralds, Radiants and Pears in 2.50 to 2.99 ct. sizes trading at significant premiums. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.
Country Comments
United States
Dealers focusing on selling to retailers, as suppliers are keeping more inventory in the US. Retailers showing steady interest, especially in fancy shapes. Industry concerned about impact of tariffs on consumer spending and is waiting to see what happens after 90-day pause.
Belgium
Market participants lacking confidence due to global situation. Polished trading quiet following Easter and Passover vacation. Uncertainty over tariffs contributing to lull. 1 to 4 ct. collection goods improving. Rough sector slow but steady ahead of De Beers sight (May 5-9).
Israel
Trading quiet. Short working week because of Memorial Day and Independence Day.
India
Activity sluggish amid tariffs and overseas holidays. Companies preparing to close in May for summer vacation. Production stable following March spike in rough imports. Market for smalls okay, with mixed demand for stars and melee. Industry concerned about impact of India-Pakistan tensions.
Hong Kong
Sales slow, with deep uncertainty about tariffs. Chinese demand sluggish but slightly better than last month. 0.30 ct. and 0.50 ct. are mainland’s best-moving categories.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 1, 2025
News:
Market quiet amid tariff uncertainty and seasonal slowdown. Dealers gradually returning from Easter and Passover holidays. India preparing to close for May summer break. US dealers with inventory are seeing steady orders from retailers. Sales slow in overseas trading centers. Low demand and stable prices expected at next week’s De Beers sight. Christie’s removes modified pear brilliant, 23.24 ct., fancy-vivid-blue, VS2 Golconda Blue diamond from Geneva auction. NRF predicts $6.8B in Mother’s Day jewelry spending. JBT reports 1Q US jewelry business closures +19% YOY to 212. Rapaport Group names Dan Mano as CEO. Sign up for the Rapaport JCK Breakfast at rapaport.com/jck25-breakfast.
Fancies:
Large fancy shapes doing better than rounds. Prices stable or increasing for 2 ct. and larger diamonds. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Emeralds, Radiants and Pears in 2.50 to 2.99 ct. sizes trading at significant premiums. Oval and Pear, 0.30 to 0.49 ct., F-I, VS diamonds in demand. Ovals 5% to 10% more expensive than Pears in US market. Supply shortages supporting prices for Marquises. Square Cushions slow. Very well-cut fancy shapes difficult to find and commanding premiums. Off-make, poorly cut fancies illiquid.
Country Comments
Dealers focusing on selling to retailers, as suppliers are keeping more inventory in the US. Retailers showing steady interest, especially in fancy shapes. Industry concerned about impact of tariffs on consumer spending and is waiting to see what happens after 90-day pause.
Market participants lacking confidence due to global situation. Polished trading quiet following Easter and Passover vacation. Uncertainty over tariffs contributing to lull. 1 to 4 ct. collection goods improving. Rough sector slow but steady ahead of De Beers sight (May 5-9).
Trading quiet. Short working week because of Memorial Day and Independence Day.
Activity sluggish amid tariffs and overseas holidays. Companies preparing to close in May for summer vacation. Production stable following March spike in rough imports. Market for smalls okay, with mixed demand for stars and melee. Industry concerned about impact of India-Pakistan tensions.
Sales slow, with deep uncertainty about tariffs. Chinese demand sluggish but slightly better than last month. 0.30 ct. and 0.50 ct. are mainland’s best-moving categories.
Previous Market Comments
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
Market Comment: May 8, 2025
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Previous Market Comments
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
Market Comment: May 8, 2025
Market Comment: May 1, 2025