The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
November 27, 2025
News:
US demand steady ahead of Thanksgiving, Black Friday and Cyber Week. Dealers busy but not expecting record season. Good movement in 2 to 4 ct., G-H, VS-SI categories for rounds and long fancies. E-commerce sales across all products +8% YOY to $79.7B for Nov.1-23, Adobe reports. US diamond prices stable. Indian prices for rounds under 1.20 ct. declining, with 0.50 ct. the weakest size. Indian retail market steady. No consensus for new conflict-diamond definition at Kimberley Process plenary. Chow Tai Fook fiscal 1H sales -1% YOY to $5B. Luk Fook estimates fiscal 1H sales up 20%-30%. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
United States
Wholesalers busy and seeing good sales. Some reporting lower-than-expected performance for memo goods. Solid market for round, emerald, marquise and elongated cushion shapes in 2 ct. and larger, G-H, VS-SI categories. Long fancies more profitable than rounds.
Belgium
Market stable. Steady demand for 4 ct. and larger diamonds. Elongated fancies strong.
Israel
Sentiment low amid mixed trading. Buyers mainly want goods that are in short supply; bread-and-butter items slow. Tariffs causing ongoing concern. Israelis reporting weak sales ahead of Thanksgiving and holiday season. Dealers reducing prices to help move inventory. Israeli diamond industry sends officials to lobby government for solution to tariff crisis and to create free-trade zone.
India
Market slow but better than last week. Sellers discounting to make deals. Domestic Indian diamond business solid. Exports to US sluggish amid tariff uncertainty. Dealers keeping inventories low.
Hong Kong
Best-selling category is 2 to 3 ct. long fancies in F-I, VS-SI qualities. Dealers expecting improvement over holiday season but not in weak categories such as diamonds under 1 ct. Chinese market quiet, with Chow Tai Fook reporting stronger sales in Hong Kong than on mainland for first fiscal half. Consumers awaiting holiday discounts.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
November 27, 2025
News:
US demand steady ahead of Thanksgiving, Black Friday and Cyber Week. Dealers busy but not expecting record season. Good movement in 2 to 4 ct., G-H, VS-SI categories for rounds and long fancies. E-commerce sales across all products +8% YOY to $79.7B for Nov.1-23, Adobe reports. US diamond prices stable. Indian prices for rounds under 1.20 ct. declining, with 0.50 ct. the weakest size. Indian retail market steady. No consensus for new conflict-diamond definition at Kimberley Process plenary. Chow Tai Fook fiscal 1H sales -1% YOY to $5B. Luk Fook estimates fiscal 1H sales up 20%-30%. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.
Fancies:
Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.
Country Comments
Wholesalers busy and seeing good sales. Some reporting lower-than-expected performance for memo goods. Solid market for round, emerald, marquise and elongated cushion shapes in 2 ct. and larger, G-H, VS-SI categories. Long fancies more profitable than rounds.
Market stable. Steady demand for 4 ct. and larger diamonds. Elongated fancies strong.
Sentiment low amid mixed trading. Buyers mainly want goods that are in short supply; bread-and-butter items slow. Tariffs causing ongoing concern. Israelis reporting weak sales ahead of Thanksgiving and holiday season. Dealers reducing prices to help move inventory. Israeli diamond industry sends officials to lobby government for solution to tariff crisis and to create free-trade zone.
Market slow but better than last week. Sellers discounting to make deals. Domestic Indian diamond business solid. Exports to US sluggish amid tariff uncertainty. Dealers keeping inventories low.
Best-selling category is 2 to 3 ct. long fancies in F-I, VS-SI qualities. Dealers expecting improvement over holiday season but not in weak categories such as diamonds under 1 ct. Chinese market quiet, with Chow Tai Fook reporting stronger sales in Hong Kong than on mainland for first fiscal half. Consumers awaiting holiday discounts.
Previous Market Comments
Market Comment: June 4, 2026
Market Comment: May 28, 2026
Market Comment: May 20, 2026
Market Comment: May 14, 2026
Market Comment: May 7, 2026
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Previous Market Comments
Market Comment: June 4, 2026
Market Comment: May 28, 2026
Market Comment: May 20, 2026
Market Comment: May 14, 2026
Market Comment: May 7, 2026
Market Comment: April 30, 2026