DIAMOND GEMS WEEKLY

This blog first appeared in the February 23 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters . Where else can we start but with De Beers’ earnings, published on Friday. The headline you’ve likely seen by now is that Anglo American wrote down the value of its diamond unit by $2.3 billion, bringing it to $2.3 billion. In the context of its ongoing effort to sell its 85% stake, that’s a damning assessment of De Beers, of Anglo’s stewardship, and of the

Happy Lunar Festival as we usher in the Year of the Horse.   While we have one eye on China’s Golden Week in the coming days, our attention last week was drawn to the annual Investing in African Mining Indaba in Cape Town. The conference doesn’t usually place much emphasis on diamonds, but this year was a little different amid heightened interest in Anglo American’s  sale of De Beers .   Most significant were comments by Anglo CEO Duncan Wanblad that the decline in diamond pr

Every so often, I’m tempted to turn this memo into a gossip column. If I ever did, it might open with something like, OMG! I’ve got so much to tell you!   Perhaps I’ve found a quieter way to indulge that instinct, because the truth is it’s been a very good week for the diamond industry.   The headlines were dominated by the US–India trade deal, which will remove tariffs on diamond imports into the world’s largest jewelry market from the largest source of polished supply. The

February is a slightly strange month. It’s a day or two shorter than the rest, which gives it a sense of ease, as though it passes a little more seamlessly.   That said, it’s an important month for the diamond industry. By now, we have a clearer view of how the holiday season played out, and jewelers have a better handle on their inventory requirements. Valentine’s Day also looms on the 14th, with the National Retail Federation (NRF) expecting record spending , including arou

Watching events unfold at the World Economic Forum in Davos, one major theme has already emerged in 2026: the era of globalization is over.   That presents another challenge for the diamond industry, although it’s not necessarily a new one. The trade benefited greatly from globalization in the 2010s, as the expansion of China’s jewelry market was driven by the belief that the country could transition toward a US-style, consumer-led economy. That dynamic meant more diamonds we

What gives a diamond its value? Is there something intrinsic in the physical product itself, or does value mostly come from how the industry positions it?   I put that question to a group of industry professionals during a panel discussion on The Way Forward for Natural Diamonds at the VicenzaOro show on Sunday. As moderator, my aim was to use the idea of value as a way into a broader conversation about how we engage today’s consumer.   The answers leaned heavily on emotional

Did you watch the Golden Globes last night? Well, neither did I. What I did get was a press release from “A Diamond Is Forever” about the natural diamond jewelry highlights on the red carpet.   I know, right. Who or what is A Diamond Is Forever to be sending me press releases? Isn’t that a slogan, the line that capped off some of De Beers’ most nostalgic marketing campaigns?   You may or may not have noticed the subtle introduction of the A Diamond Is Forever   Instagram acco

In any business, it’s important to recognize milestones, not necessarily as a reason to celebrate one’s accomplishments, but to take stock and reset the benchmarks from which to build.   This week marks one year since I launched The Diamond Press. The objective today is the same as it was then: to build a community around clear, insightful analysis of the diamond industry.   Looking back, the first year comes with mixed feelings. The community has grown steadily. Traffic to T

While scrolling through my Instagram feed, I was ambushed by an annoyingly upbeat song that opens with the line, “I’m curious how miners find diamonds.”   My first instinct was to ask what, in the name of Chanukah and Christmas, I was listening to. Still, the subject matter forced me to sit through it. The monotonous tune, which the account learningwithlyrics seems to use across its educational videos, paired with what looked like an AI-generated visual, cheerfully walked th

Last week’s inaugural episode of Diamond Debates sparked a lively online discussion about the industry’s relationship with today’s consumer. As much as I tried to steer the conversation away from synthetics, the reality is unavoidable. Gen-Z, along with other consumer cohorts, is attracted to the more affordable alternative at its disposal.   Overshadowing the discussion, was the disclosure by Signet Jewelers in its recent earnings call, that lab-grown diamonds accounted for

By now we’ve accepted that the Kimberley Process plenary will be remembered more for what it failed to achieve than for anything it managed to do, despite the high hopes going into the Dubai meeting.   Chief among those hopes was the expansion of the conflict-diamond definition, which didn’t pass. My understanding is that the debate narrowed to two versions that differed on one key point, whether to include state actors funded by diamond sales for acts of aggression. In the c

When I tell people my job is to explain the diamond industry, they usually move through a predictable arc of curiosity. The first step is asking whether there’s enough subject matter to keep me busy, which sends me into a three-hour discourse about the ins and outs of the market. It’s never been a great party trick or pick-up line, but it does grab their attention for a few minutes before they start scouting the nearest drinks station.   The truth is the diamond and jewelry w

It’s Thanksgiving week, the first real marker of the holiday season, and the coming weekend still ranks among the busiest shopping periods of the year. It has lost some of its old chaos, mind you. A small part of me misses the midnight scrums, the elbows, the hair-pulling over that final discounted TV. Maybe we have matured into a more civilized society – one hopes so even if I still find myself watching those old Black Friday clips on YouTube.   The frenzy has eased, I think

It may not feel like it, but this could be a consequential week for the diamond industry. The Kimberley Process (KP) plenary is taking place in Dubai, with several long-running issues on the agenda, having reached a stage where they demand resolution.   The sense of urgency comes partly from the UAE’s two-year chairmanship drawing to a close. Its term brought rare stability, structure, and focus to a role that usually rotates annually and too often lacks those elements. The U

US tariffs are back in focus following last week’s Supreme Court hearing on whether the Trump administration’s implementation of the trade policy was lawful. The justices voiced skepticism about the president’s use of powers to impose the levies, but the higher tariffs are expected to stay in place at least through early next year.   For now, it falls to individual trading centers to ensure diamonds are part of their own governments’ negotiations with Washington.   Looking ba

Why do I always feel the need to start each new month by saying to myself (and anyone within earshot), “Can you believe it’s already [insert month here]?”   Well, here we are — it’s November! Can you believe it? That means the holiday season has somehow crept up on us again. While Thanksgiving weekend is often seen as the cultural kickoff, retailers officially count their holiday sales from November 1 through December 31.   So, by my calendar, it’s officially begun, and I’m w

I’ve been on the move these past few days, attending the CIBJO Congress in Paris, and despite my best efforts, I missed my self-imposed Monday deadline — so, happy Tuesday.   CIBJO — the World Jewellery Confederation — kicked off its centenary year in the city of its birth, with celebrations set to continue at next year’s congress in Vicenza. If you’re not familiar, CIBJO is essentially an association of associations spanning the full jewelry spectrum. It plays many roles, bu

So they hit the Louvre and made off with historic gems. I don’t know why I get so sentimental about these things. And it’s not just jewelry; I get similarly peeved when activists throw ketchup on great works of art.   This time, with royal tiaras, necklaces, and brooches once worn by Empress Eugénie and other Napoleonic-era figures among the stolen items, one can’t help but feel a sense of tragedy at the thought of such important pieces being dismantled and lost forever. Then

Amid the flurry of holiday marketing activity, one notable silence stands out — that of the Natural Diamond Council (NDC).   The NDC hasn’t launched a holiday campaign because it simply doesn’t have the funds to do so. Commitments made under the Luanda Accord in July have yet to be fulfilled.   That agreement saw governments and industry bodies pledge 1% of the value of rough diamond sales to finance a global marketing effort promoting natural diamonds. The funds were meant t

A big thank-you to everyone who joined last week’s Business of Jewelry Roundtable. Both sessions offered such different — yet equally...