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RAPAPORT ® TRADEWIRE ®
January 8, 2026
Rapaport Market Comment - January 8, 2026

Dealers returning from vacation. US wholesalers with sought-after inventory (1.50 ct.+ or long fancies) had good season. Independents shifting to natural. Market awaiting holiday results and analyzing 2025 performance to prepare for new year. 1 ct. RAPI -9.9% in 2025. US Nov.-Dec. online retail sales +6.8% YOY to $258B, Adobe reports. Low expectations for Mumbai IIJS Signature show amid lull in domestic jewelry demand. Chinese New Year season likely to be quiet. Hong Kong Nov. retail sales of jewelry, watches, clocks and valuable gifts +3.6% YOY to $596M. Botswana willing to cooperate with Russia on diamonds. Gold at record price amid geopolitical uncertainty.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.33% -7.20% -20.48%
0.50 ct -0.30% -4.88% -26.22%
1.00 ct -0.27% -2.28% -9.43%
2.00 ct -0.09% -0.93% -1.98%
3.00 ct -0.73% -1.50% -0.71%
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Market Reports
United States: Independent jewelers going back to natural following drop in synthetics prices…
United States: Independent jewelers going back to natural following drop in synthetics prices…
Belgium: Large stones moving well, as are high colors…
Belgium: Large stones moving well, as are high colors…
Israel: Industry still hoping for news on US-Israel trade agreement…
Israel: Industry still hoping for news on US-Israel trade agreement…
India: Slight pickup in trading following holidays…
India: Slight pickup in trading following holidays…
Hong Kong: Mainland China slow, with synthetics gaining popularity…
Hong Kong: Mainland China slow, with synthetics gaining popularity…
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Podcast: Who Buys Lab-Grown Diamonds?

Michigan-based retailer Randy Cole explains the demographics.

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1-carat RAPI down 2.3% in December.
Diamond Market Cautious at Start of Year
1-carat RAPI down 2.3% in December.
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Revenue up 7% year on year to $257.8 billion, Adobe Analytics reports.
US Online Holiday Spending Sets New Record
Revenue up 7% year on year to $257.8 billion, Adobe Analytics reports.
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Revenue from jewelry up 41% year on year in third fiscal quarter.
Strong Festive Demand Drives Titan Sales
Revenue from jewelry up 41% year on year in third fiscal quarter.
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Revenue from jewelry, watches, clocks and valuable gifts up 3.6% year on year.
Hong Kong Luxury Sales Continue to Rise in November
Revenue from jewelry, watches, clocks and valuable gifts up 3.6% year on year.
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International Relations Minister Phenyo Butale says African country’s processing sector will benefit from collaboration, according to media source.
Botswana Willing to Partner with Russia on Diamonds
International Relations Minister Phenyo Butale says African country’s processing sector will benefit from collaboration, according to media source.
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New feasibility study shows value of top goods down 16% from two years ago.
Lucara’s Rough Reserves, Prices Tumble Amid Low Demand
New feasibility study shows value of top goods down 16% from two years ago.
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Tectonic Metals appoints cofounder Eira Thomas as board chair.
Former Lucara CEO Moves into Gold Exploration
Tectonic Metals appoints cofounder Eira Thomas as board chair.
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Accurate identification is challenging when it comes to finished pieces.
GIA Examines Partially Fake Pearl Jewelry Posing as Natural
Accurate identification is challenging when it comes to finished pieces.
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