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Yahoo
an hour ago
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Rapaport Press Release: Tariffs Fuel Volatility in Diamond Prices
1-carat RAPI down 1.4% in July. LAS VEGAS, August 06, 2025--(BUSINESS WIRE)--Diamond prices declined for most of July amid uncertainty over US tariffs. Major retailers postponed holiday purchases, creating pressure on prices and inventory following a hike in manufacturing. US dealers raised prices on the final day of the month in response to President Donald Trump's July 30 announcement of 25% duties on Indian imports. The trade began moving inventory to the US ahead of August 7, when the new rate goes into effect. The RapNet Diamond Index (RAPI™) for 1-carat goods — reflecting round, D to H, IF to VS2 diamonds — fell 1.4% in July. Smaller diamonds saw a sharper downturn amid a growing oversupply: The index for 0.30- and 0.50-carat stones declined 3.3% and 4.7% respectively. Larger stones enjoyed more stability, with the 3-carat RAPI slipping 0.3%. Prices of round, 1-carat, D to J, SI diamonds slid 4.6% during the period. RapNet Diamond Index (RAPI™) Index July Year to Date Year on Year Jan. 1 , 2025 to Aug. 1, 2025 Aug. 1 , 2024 to Aug. 1, 2025 RAPI 0.30 ct. 1,132 -3.3% 8.1% 3.1% RAPI 0.50 ct. 1,593 -4.7% -5.2% -9.6% RAPI 1 ct. 4,518 -1.4% -1.8% -8.6% RAPI 3 ct. 17,997 -0.3% -1.5% -5.3% © Copyright 2025, Rapaport USA Inc. Production in India increased from February through June. Steady quantities of fresh goods have entered the market in the past two months. Inventories of rounds under 1.20 carats have risen sharply, prompting suppliers to reduce prices as a way of generating sales. De Beers' policy of offloading rough at slimmer margins enabled manufacturers to sell polished profitably at low prices. De Beers reported an underlying loss of $245 million for the first half of 2025, compared with a $73 million profit a year earlier. Small miners cut output and workers, reflecting pressure on the sector. Demand for elongated fancy shapes remained strong in July. Prices were stable in most categories. Goods of 2 carats and larger were in short supply. Independent US jewelers enjoyed steady sales and took on new memo goods. However, the larger retailers delayed their seasonal purchases because of the tariffs and a more cautious approach to inventory. They are also shifting further toward synthetics. View source version on Contacts Media Contacts: media@ US: Sherri Hendricks +1-702-893-9400International: Avital Engelberg +1-718-521-4976 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
