The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 29, 2025
News:
Industry focusing on Las Vegas shows, waiting to assess market situation. US court rules Trump had no authority to impose tariffs. India trade slow amid sluggish overseas and domestic polished demand. Long fancies doing better than rounds. De Beers predicts doubling of Indian diamond demand over next five years. Botswana President Duma Boko reportedly calls for polishing all of country’s rough locally. Swiss watch exports +18% YOY to $3.1B in April amid pre-tariff spike in shipments to US. Colored stones dominate $48M Christie’s Hong Kong auction. Rapaport looks forward to welcoming industry members at its three JCK booths. Register for the Rapaport Breakfast at rapaport.com/jck25-breakfast.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in large sizes. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Ovals, Pears and Emeralds of 2.50 to 2.99 ct. 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. Fancies with bad proportions are illiquid.
Country Comments
United States
Short week due to Memorial Day. Market making final preparations for Las Vegas shows, with dealers cautiously optimistic that American retailers will buy. Undesirable goods in oversupply; tariffs making sought-after items expensive to replace. Steady interest in 1.25 ct. and larger ovals.
Belgium
Sales volumes low but stable. 1 and 2 ct. ovals moving amid shortages, but 0.50 ct. goods slower. Dealers waiting for Las Vegas shows in order to assess market situation, and hoping industry will find solution to tariffs.
Israel
Market quiet. Uncertainty over tariffs has affected smaller companies’ activity. Fewer Israelis to attend JCK Las Vegas than in past years.
India
Trading sluggish amid lack of overseas and domestic demand. Sellers want to move goods before US summer slowdown and are willing to discount. Tariffs fueling uncertainty ahead of JCK. Some companies to reduce their presence at the show. Gap between US and India prices narrowing, as companies have shipped goods to New York to avoid high tariffs. Fresh polished production entering Indian market, with sought-after goods commanding high asking prices due to shortages in US.
Hong Kong
Little activity overall in Chinese market. Buyers were cautious over recent Labor Day holiday. Sales improving for round, 0.30, 0.50 and 1 ct., E-H, VS-SI diamonds. Round, 0.25 to 3 ct., D-G goods moving better than before in Hong Kong. Melee stable but slow.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 29, 2025
News:
Industry focusing on Las Vegas shows, waiting to assess market situation. US court rules Trump had no authority to impose tariffs. India trade slow amid sluggish overseas and domestic polished demand. Long fancies doing better than rounds. De Beers predicts doubling of Indian diamond demand over next five years. Botswana President Duma Boko reportedly calls for polishing all of country’s rough locally. Swiss watch exports +18% YOY to $3.1B in April amid pre-tariff spike in shipments to US. Colored stones dominate $48M Christie’s Hong Kong auction. Rapaport looks forward to welcoming industry members at its three JCK booths. Register for the Rapaport Breakfast at rapaport.com/jck25-breakfast.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in large sizes. High-quality stones hard to find. Solid US interest in elongated Ovals of good shape and quality in D-I, VS-SI categories. Elongated Ovals, Pears and Emeralds of 2.50 to 2.99 ct. 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. Fancies with bad proportions are illiquid.
Country Comments
Short week due to Memorial Day. Market making final preparations for Las Vegas shows, with dealers cautiously optimistic that American retailers will buy. Undesirable goods in oversupply; tariffs making sought-after items expensive to replace. Steady interest in 1.25 ct. and larger ovals.
Sales volumes low but stable. 1 and 2 ct. ovals moving amid shortages, but 0.50 ct. goods slower. Dealers waiting for Las Vegas shows in order to assess market situation, and hoping industry will find solution to tariffs.
Market quiet. Uncertainty over tariffs has affected smaller companies’ activity. Fewer Israelis to attend JCK Las Vegas than in past years.
Trading sluggish amid lack of overseas and domestic demand. Sellers want to move goods before US summer slowdown and are willing to discount. Tariffs fueling uncertainty ahead of JCK. Some companies to reduce their presence at the show. Gap between US and India prices narrowing, as companies have shipped goods to New York to avoid high tariffs. Fresh polished production entering Indian market, with sought-after goods commanding high asking prices due to shortages in US.
Little activity overall in Chinese market. Buyers were cautious over recent Labor Day holiday. Sales improving for round, 0.30, 0.50 and 1 ct., E-H, VS-SI diamonds. Round, 0.25 to 3 ct., D-G goods moving better than before in Hong Kong. Melee stable but slow.
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