Market Comment

The diamond trade’s trusted bulletin for pricing, trends and news

Weekly since 1980

November 12, 2026

News:

India quiet during Diwali. Prices of round, 0.30 to 0.69 ct. diamonds continue to decline; 1 ct. to 1.99 stabilizing, 2 ct.+ steady. Pears soft to stable; ovals holding firm. US market solid, with trade preparing for Thanksgiving weekend. Botswana picks Gareth Penny’s Global Diamond Consortium as preferred De Beers bidder, seeks to double stake to 30%. France, Botswana sign natural-diamond declaration, call for “diamond” to refer only to mined goods. Christie’s sells emerald, 24 ct., fancy-intense-pink, VVS2 diamond for $14.8M ($617K/ct.). Brilliant Earth 3Q sales +2.3% YOY to $113M. India’s Titan sees young buyers choosing natural. Israel bourse elects Shai Schnitzer president.

Fancies:

Long fancy shapes such as Ovals, Marquises and Emeralds moving well in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquise is most expensive fancy shape. Long Cushions easy to sell and trading at 20% to 25% premiums over square ones. Reports of demand for Princesses after long period of weakness; prices remain low. 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 solid and moving in positive direction. Round, 1.25 ct. and larger, F-H, SI1-SI2 diamonds seeing steady demand as market stabilizes following price declines. Long radiants, ovals and marquises up to about 3 ct. popular; most orders are memo, but conversion rate is healthy. Desirable goods in short supply. Retail upbeat, with jewelry at $3,000 to $5,000 selling best and natural regaining lost ground from synthetics. Retailers need holiday merchandise by Thanksgiving. Dealers expect good Christmas season.


Belgium:

Short week due to Armistice Day public holiday. Market steady as dealers prepare for holiday season. Indian traders returning from Diwali break.


Israel:

Bourse president elections attracting less interest than usual due to state of industry. Israelis trying to capitalize on India’s Diwali shutdown.


India:

Market quiet during Diwali festival and New Year holiday. Manufacturing units closed for 15 to 30 days, sales offices for a week.


Hong Kong:

Mainland Chinese consumers driving high-end demand. Dealers remain cautious and selective, and are awaiting results of Singles’ Day (11/11) shopping festival. High-quality, large natural diamonds still popular, especially 3 ct. and larger rounds, while stones under 3 ct. not seen as investment, and under 1 ct. weak. Pears and ovals moving in 2 to 4 ct.; fancy pinks, blues and yellows popular among luxury collectors. Jewelry sales improving, indicating better consumer confidence, though many dealers turning to synthetics.


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