Prices for smaller diamonds fell in December as the industry entered 2026 with the same dynamics and concerns that were present for most of last year, Rapaport said in its latest press release.
The online diamond trading network reported that its RapNet Diamond Index (RAPI) for 1-carat diamonds dropped 2.3% in December 2025, while the price index for 0.30-carat and 0.50-carat stones was down 9.3% and 6.4%, respectively, "mostly reflecting declines in India."
At the same time, the 1-carat RAPI fell 9.9% for the full 2025, devalued by 20.3% for the 0.30-carat diamonds, and tumbled 26% for 0.50-carat goods.
RAPI for 3-carat goods crept up 0.3% - both in December and for the full year of 2025. Diamonds of 7 to 15 carats ended the year with strong demand.
"Smaller goods fell more sharply - mainly in the second half of the year, due to tariffs and to major retailers shifting away from natural," Rapaport noted in the report.
"The industry awaited a US-India trade deal and remained cautious about synthetics, the sale of De Beers, high gold prices, and sanctions on Russia. Current trends look set to continue, with long fancies outpacing rounds, and 1.20-carat and larger goods gaining popularity."
Theodor Lisovoy, Managing Editor, Rough&Polished
