{"id":1177,"date":"2025-06-07T11:19:49","date_gmt":"2025-06-07T11:19:49","guid":{"rendered":"https:\/\/uwscinm1cs.wpdns.site\/?post_type=newsletter&p=1177"},"modified":"2026-06-02T14:24:56","modified_gmt":"2026-06-02T14:24:56","slug":"the-diamond-pulse-june-2025","status":"publish","type":"newsletter","link":"https:\/\/rapaport.com\/trade\/newsletters\/the-diamond-pulse-june-2025\/","title":{"rendered":"The Diamond Pulse – June 2025"},"content":{"rendered":"\n

THE MONTHLY ‘RAP’
Split Diamond Market: Tariffs, Jobs Cuts & Auction Triumphs<\/h3>\n\n\n\n

Despite glimmers of recovery earlier this year, May saw the diamond market slip further into decline, due to the looming threat of new US tariffs. Botswana\u2019s president confirmed over 1,000 job cuts<\/a> at Debswana, the government\u2019s joint venture with De Beers. Mountain Province<\/a> posted a quarterly loss as sales more than halved, while Lucara revised its full-year guidance<\/a> downward and flagged concerns about its long-term viability. Meanwhile, Lucapa announced<\/a> it had entered voluntary administration, and is looking for refinancing or a buyer. Sarine reported a loss<\/a> as customers held back from scanning stones, waiting to see how the tariffs would affect business. Meanwhile, The World Diamond Council<\/a> appealed to the US government to exempt diamonds from any trade penalties. Despite widespread concern, a Rapaport survey<\/a> found many in the trade have not yet taken steps to adjust their business practices to the new tariff landscape.<\/p>\n\n\n\n

However, there were still glimmers of hope. The Kimberley Process<\/a> made progress toward expanding the definition of conflict diamonds, while CIBJO launched an industry-wide responsible jewelry glossary<\/a> aimed at standardizing key sourcing and sustainability terms. Auction houses also delivered a strong performance as Christie\u2019s achieved $72 million in Geneva with a 100% sell-through<\/a>, led by a 35-carat Kashmir sapphire<\/a> that brought in nearly $10 million. A 393-carat sapphire and a pink diamond linked to Marie Antoinette<\/a> are set to headline Christie\u2019s New York sale, and Sotheby\u2019s drew $21 million<\/a> for the 10-carat Mediterranean Blue diamond.<\/p>\n\n\n\n

\"Get<\/a><\/figure>\n\n\n\n
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Here’s your diamond market analysis from Rapaport Trade for May 2025<\/h3>\n\n\n\n

In May, the 1 ct RAPI was flat. Overall, higher-quality diamonds generally performed better than lower-quality round 1 ct diamonds. At the end of May and into June, nearly 22% of round one-carat diamonds available on Rapaport Trade were G-J SI diamonds, while only around 12% of the searches on Rapaport Trade throughout the month were for G-J SI diamonds.<\/p>\n\n\n\n

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Please note: the searches breakdown are a breakdown of buyer searches on Rapaport Trade
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<<Click here>> <\/a>to join the industry’s largest and most trusted 
diamond, gem and jewelry trading network.<\/strong><\/p>\n","protected":false},"featured_media":17518,"template":"","meta":{"_acf_changed":false,"_angie_page":false,"inline_featured_image":false},"class_list":["post-1177","newsletter","type-newsletter","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/newsletter\/1177","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\/17518"}],"wp:attachment":[{"href":"https:\/\/rapaport.com\/trade\/wp-json\/wp\/v2\/media?parent=1177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}