{"id":11704,"date":"2025-10-05T13:11:24","date_gmt":"2025-10-05T13:11:24","guid":{"rendered":"https:\/\/www.rapnet.com\/?post_type=newsletter&#038;p=11704"},"modified":"2025-10-05T13:11:25","modified_gmt":"2025-10-05T13:11:25","slug":"the-diamond-pulse-october-2025","status":"publish","type":"newsletter","link":"https:\/\/rapaport.com\/trade\/newsletters\/the-diamond-pulse-october-2025\/","title":{"rendered":"The Diamond Pulse &#8211; October 2025"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"ember936\">Trade Faces Tariffs, Tough Times and Early Holiday Talk<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"ember937\">September was an interesting month for the diamond industry. Some issues saw the first shoots of repair, while the overall market still struggled with the ongoing lack of demand, which is expected to haunt holiday sales. Tariffs reached a turning point, as President Donald Trump <a href=\"https:\/\/rapaport.com\/news\/trump-puts-diamonds-on-list-of-potential-tariff-exemptions\/\" target=\"_blank\" rel=\"noreferrer noopener\">put<\/a> diamonds on the list of products that could receive exemptions under future trade deals. The first country to reach this arrangement was Belgium, with the Antwerp World Diamond Centre (AWDC) announcing the nation\u2019s polished-diamond imports would now be tariff-free. However, miners had yet to see improvement, with Ekati mine owner Burgundy <a href=\"https:\/\/rapaport.com\/news\/ekati-diamond-mine-owner-seeks-over-1m-in-funding-to-sustain-business\/\" target=\"_blank\" rel=\"noreferrer noopener\">revealing<\/a> it\u2019s seeking funding to keep the business afloat. Gemfields\u2019 revenue <a href=\"https:\/\/rapaport.com\/news\/gemfields-revenue-plunges-amid-temporary-mine-closure\/\" target=\"_blank\" rel=\"noreferrer noopener\">plunged<\/a> 47% to $64.2 million for the first half, as it paused production at its Kagem emerald mine to save money, and Gem Diamonds <a href=\"https:\/\/rapaport.com\/news\/gem-diamonds-chops-four-years-off-letseng-mine-life\/\" target=\"_blank\" rel=\"noreferrer noopener\">cut<\/a> four years off the life of its Let\u0161eng mine following cost-cutting initiatives that would prevent it from working on new portions of the deposit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Holiday forecasts from Bain, Mastercard and others predicted holiday sales would grow this year but didn\u2019t include jewelry in that assessment. However, a <a href=\"https:\/\/rapaport.com\/news\/early-holiday-sales-strong-with-natural-diamonds-outperforming-lab-grown\/\" target=\"_blank\" rel=\"noreferrer noopener\">survey<\/a> of independent jewelers showed festive sales, and especially those of natural diamonds, were going well.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"ember940\">There was a lot of talk surrounding De Beers, as the company extended its sightholder contracts by six months and both Botswana and Angola <a href=\"https:\/\/rapaport.com\/news\/botswana-angola-seek-stakes-in-de-beers\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> they were seeking a stake in the mining giant. Meanwhile, lab-grown was a popular subject. The World Jewellery Confederation (CIBJO) said it wanted to remove the term lab-grown from its Blue Book, and Signet Jewelers raised its full-year forecast following strong sales, in large part thanks to lab-grown fashion jewelry.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/rapaport.com\/trade\/free-trial-blog\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/464503\/dd7d1623-c1e2-4f43-bd9f-7ae4cd74237b.png\" alt=\"Get a FREE 7-day trial of Rapaport Trade\" title=\"\"><\/a><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Here&#8217;s your diamond market analysis from Rapaport Trade for September 2025<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"ember943\">In September, the price for the 1-carat RAPI softened to $4,437 by month&#8217;s end, down 0.9% from the previous month, when the index had fallen 1.1%. Better clarity diamonds in the D-H IF-VVS category led the decline in the index, falling an average of 1.1%, while the mid-tier VS quality diamonds fell only an average of 0.5%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"ember944\">D-F and G-J SI categories saw a decline of an average of 2%, while in August they fell an average of 3%. Low-quality diamonds in the K-M VS-SI category saw an average decline of 1.8%, compared to August when they fell an average of 0.9%. Distribution across Rapaport Trade inventory categories and searches remained unchanged for the fifth consecutive month.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"492\" height=\"1024\" src=\"https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-492x1024.webp\" alt=\"\" class=\"wp-image-11706\" title=\"\" srcset=\"https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-492x1024.webp 492w, https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-144x300.webp 144w, https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-768x1598.webp 768w, https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-738x1536.webp 738w, https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-985x2048.webp 985w, https:\/\/rapaport.com\/trade\/wp-content\/uploads\/2025\/10\/TDP9_LinkedIn-Infographic-1920px-scaled.webp 1231w\" sizes=\"(max-width: 492px) 100vw, 492px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Please note: the searches breakdown are a breakdown of buyers searches on Rapaport Trade<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/hubs.ly\/Q03fyrnk0\" target=\"_blank\" rel=\"noopener\">&lt;&lt;Click here&gt;&gt;&nbsp;<\/a>to join the industry&#8217;s largest and most trusted&nbsp;<br>diamond, gem and jewelry trading network.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"featured_media":11705,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"class_list":["post-11704","newsletter","type-newsletter","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/newsletter\/11704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/newsletter"}],"about":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/types\/newsletter"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/media\/11705"}],"wp:attachment":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/media?parent=11704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}