DIAMOND GEMS WEEKLY

The diamond market enters 2026 in a state of flux after three punishing years from 2023 to 2025, with sustained pressure across mining, manufacturing, and retail. It does not take a futurist to see that many of the forces behind the downturn remain firmly in place. The question now is how those dynamics evolve as the industry searches for greater stability. To open the year, The Diamond Press sets out 10 developments and themes that are set to define the diamond trade in

Solitaire International: A growing debate over terminology is reshaping how the trade defines and differentiates synthetics from natural diamonds. Heated exchanges at the CIBJO Congress in Paris, along with France’s reaffirmation of the term “synthetic,” have brought language back to the center of the discussion after years in which the word became largely taboo. That shift, reinforced by the Gemological Institute of America’s move away from the 4Cs in its color and clari

Natural Diamond Council: There’s been a surge in the recovery of spectacular large rough diamonds, many of which are achieving record prices despite challenging market conditions. The question is what’s driving these discoveries, and which rough and polished stones have gone on to rewrite the record books. I was proud to contribute to the Natural Diamond Council’s latest Record-Breaking Diamonds report, which examines some of the rarest and most consequential diamonds ever re

At last, someone has advised the Botswana government not to raise its stake in De Beers. As Anglo American prepares to divest from its 85% share in the diamond company, Botswana has signaled its interest in buying some or all of that stake, adding to the 15% it already owns. Until now, it seems that most of those with the president’s ear have entertained the notion that increasing the government’s stake in De Beers is a good idea. Yet Botswana is heading for its third str

Solitaire International: The US jewelry sector is on track for another year of growth in 2025, with sales up 5 percent in the first ten months of the year. Independent retailers are driving much of the momentum even as large chains still dominate overall market share. That strength comes despite heavy headwinds. A 50% US tariff on Indian imports is squeezing margins, gold above $4,100 per ounce is keeping price pressure high, and jewelry-related crime and skills shortages a

The diamond industry must brace itself for another shakeup as restrictions on Russian supply may be lifted sooner than anticipated. Alrosa’s reintroduction to the market should now be considered an imminent possibility, after President Trump presented a 28-point draft proposal in Kyiv to end Russia’s war in Ukraine. The plan, developed with Moscow’s input, maps out phased and selective sanction relief, a path for Russia to rejoin the G8, and broader US-Russia economic coope

The Natural Diamond Council (NDC) is close to receiving the funds pledged under the Luanda Accord signed in July. Two separate commitments came out of that meeting in the Angolan capital. The first was a structural one, with signatories agreeing to establish a mechanism that allocates 1% of rough-diamond sales to the NDC. The aim is to support the council’s budget from next year (2026) onward, and create a more stable way for the industry to fund consumer-facing marketing f

The diamond industry stands at a pivotal moment in its evolution, facing a convergence of internal pressures and external forces that demand new ways of thinking and operating. I had the privilege of facilitating a strategic discussion at the CIBJO Congress in Paris that examined these challenges, from shifting global demand and the rise of lab-grown diamonds to the squeeze on mid-tier retail and growing supply constraints amid mine closures and traceability requirements. P

Geopolitics has taken on a far more influential role in the diamond trade in recent years, with three key issues shaping the industry’s discourse in 2025: escalating US tariffs, restrictions on Russian diamonds, and the European Union’s tightening ESG regulations. These interconnected forces are driving the trade toward greater transparency, traceability, and accountability, placing particular pressure on SMEs to keep pace with evolving standards. I was honored to moderat

Solitaire International: As the US holiday retail season begins, affluent consumers are continuing to spend on luxury goods, while budget-conscious shoppers are increasingly drawn to promotions and value-driven offerings. This divide suggests that high-end and big-ticket jewelry may perform well, though overall volumes could stagnate as middle-income households rein in spending. Retail jewelers are therefore sharpening their strategies: luxury brands are emphasizing exclusi

What does the diamond industry want, or expect, from the new owners of De Beers, whoever they turn out to be? Should we expect a...

Solitaire International: After nearly three years of declines, America’s mid-market jewelers finally posted growth in the first half of 2025. Luxury leaders like Richemont and mass-market brand Pandora continued their double-digit momentum, but the surprise came from Signet Jewelers and Brilliant Earth. Both lifted sales despite economic and geopolitical headwinds, with their approaches reflecting the broader dilemma reshaping jewelry retail: growth is concentrated at the

The World Jewellery Confederation (CIBJO) has released a series of reports across key areas of the trade ahead of its Congress in Paris from October 27 to 29. Several papers recommend updates to the CIBJO Blue Books, which set global standards for grading and nomenclature of diamonds, colored gemstones, pearls, coral, precious metals, and gemological laboratories, as well as responsible sourcing guidelines. The Special Report for Diamonds revisits CIBJO’s 2010 decision t

Uncertainty over US tariffs, China’s slowdown, and geopolitics has dominated industry headlines this year, but two additional forces are...

Interior of a Kay Jewelers store. (Signet Jewelers) Signet Jewelers is emerging as the ultimate test case of how the natural and...

Aerial view of the Letšeng mine in Lesotho. (Credit: Gem Diamonds) “Which mining companies are making a profit in the current diamond...

Taylor Swift's diamond engagement ring. ( www.instagram.com/taylorswift/ ) Taylor Swift’s engagement to Travis Kelce tells you everything...

Solitaire International: Are zero tariffs on diamonds just wishful thinking, or a realistic possibility? With the US imposing 25% tariffs on India — and another 25% set to follow on August 27 — the ripple effects go far beyond India’s domestic trade. Global supply chains, pricing, sourcing strategies, and market dynamics are all at risk. Cutting India out isn’t realistic, given its central role in cutting and polishing. That leaves one lifeline: convincing the Trump admi

A sightholder examines De Beers rough supply. (Credit: De Beers) During an interview with De Beers CEO Al Cook in June, I asked him about...

Solitaire International: As the jewelry industry navigates challenges like lab-grown diamonds and supply chain disruptions, a quieter revolution is underway — led by consumers themselves. Insights from McKinsey & Company’s State of the Consumer 2025 and The Plumb Club’s Industry and Market Insights 2025 reveal that modern buyers, particularly Gen Z, are reshaping the market with new values centered on authenticity, ethical clarity, and emotional resonance. Gen Z’s influence i