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RAPAPORT ® TRADEWIRE ®
January 15, 2026
Rapaport Market Comment - January 15, 2026

Market quiet amid soft prices in India. High gold prices (+6% to $4,608/oz. since Jan. 1) impact trading at Mumbai’s IIJS show, with consumers shifting to lighter jewelry. Dealers expect limited impact from synthetics in India. Manufacturers cautious following tough 2025 and amid tariff uncertainty. US Jan.-Oct. polished imports -48% YOY to $6.6B, Hong Kong Jan.-Sep. 2025 polished imports -1% to $8.5B. Angola 2025 rough sales +70% to 18M cts., value +21% to $1.8B, reflecting exports of low-value goods. Rough market watching for price changes at Jan. 19-23 De Beers sight. Petra finds 42 ct. blue diamond. Industry mourns passing of Louis Glick.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.72% -4.40% -20.46%
0.50 ct -0.11% -2.29% -25.91%
1.00 ct -0.45% -2.32% -9.23%
2.00 ct -0.27% -0.92% -2.33%
3.00 ct -0.14% -1.14% -0.40%
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Market Reports
United States: Concerns about luxury retail after Saks Fifth Avenue owner files for bankruptcy protection…
United States: Concerns about luxury retail after Saks Fifth Avenue owner files for bankruptcy protection…
Belgium: Large diamonds, fancy colors and top-end diamonds in demand…
Belgium: Large diamonds, fancy colors and top-end diamonds in demand…
Israel: Sales slow and sentiment low amid ongoing impact of US tariffs…
Israel: Sales slow and sentiment low amid ongoing impact of US tariffs…
India: Buyers purchasing for specific orders only…
India: Buyers purchasing for specific orders only…
Hong Kong: Gold demand rising ahead of Chinese New Year…
Hong Kong: Gold demand rising ahead of Chinese New Year…
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IIJS Show Opens to Soaring Gold Prices, Lab-Grown Buzz
By Joshua Freedman

Mumbai fair reflects unease following strong year for Indian jewelry market.

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Gold-Price Jump Is Hitting Profits, Say Indian Diamond Jewelers
By Joshua Freedman

Exhibitors at IIJS Bharat – Signature show cite impact of shift in product composition.

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Spending up 1.2% from November and 3.5% year on year.
US Retail Sales See Holiday Spike in December
Spending up 1.2% from November and 3.5% year on year.
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Jeweler cites weak consumer sentiment, particularly during holiday season.
Pandora’s Full-Year Revenue Falls Short of Guidance
Jeweler cites weak consumer sentiment, particularly during holiday season.
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Category up 6% year on year for three months that ended December 31.
Jewelry Continues to Strengthen at Richemont
Category up 6% year on year for three months that ended December 31.
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Authorities brought in previous suspects in March, including one of the company’s security officers.
Namdia Diamond-Heist Probe Leads to Another In-House Arrest
Authorities brought in previous suspects in March, including one of the company’s security officers.
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Sales volume up 70% year on year.
Angola Diamond Mines Yield $1.8B in Revenue in 2025
Sales volume up 70% year on year.
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Miner increases private placement of common shares to 1.03 billion due to robust investment demand.
Lucara Ups Equity Raise to Complete Underground Project
Miner increases private placement of common shares to 1.03 billion due to robust investment demand.
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Stone is first of such color and magnitude found at the deposit in past five years.
Petra Unearths 42ct. Blue Diamond from Cullinan Mine
Stone is first of such color and magnitude found at the deposit in past five years.
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The world’s largest diamond-manufacturing country has been an observer in ADPA since last year.
African Diamond Group Nixes Claims It Opposes India as KP Chair
The world’s largest diamond-manufacturing country has been an observer in ADPA since last year.
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Kimberly Miller succeeds Emmanuel Danan, who left the company last year.
Christie’s Names New Global Managing Director for Luxury
Kimberly Miller succeeds Emmanuel Danan, who left the company last year.
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Programs will take place in the company’s Mumbai education center, offering access to internationally recognized certification.
HRD Antwerp Launches Jewelry Courses in India
Programs will take place in the company’s Mumbai education center, offering access to internationally recognized certification.
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Ana Khouri will receive the 2026 GEM accolade in March.
JA Reveals High Jewelry Excellence Award Winner
Ana Khouri will receive the 2026 GEM accolade in March.
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