Diamond Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Diamond in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Diamond Price Trend for the Second Half of 2023

In the second half of 2023, diamond prices experienced a moderate decline, with 1-carat diamonds falling by 2.2% and smaller sizes seeing reductions as well in the Asian countries. Indian manufacturers initially struggled to reduce inventories amid a weak holiday season and competition from synthetic diamonds. The situation improved later in the month as US jewelers began holiday purchases, though economic concerns in the US and China tempered consumer confidence.

Diamond Price Chart

Diamond Price Trends

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India's voluntary freeze on rough imports and discussions within the industry about banning Russian diamond imports into G7 countries have also significantly influenced market dynamics. Therefore, the holiday outlook of the diamond market in Asian countries remained bleak, with budget-focused consumers possibly shifting towards synthetic diamonds, impacting sales of natural diamonds.

Analyst Insight

According to Procurement Resource, the price of Diamond is expected to remain on the lower end of the pricing spectra as the shift in consumer preferences and prevalence of lad grown diamonds has altered the trajectory of natural diamonds' price trend.

Diamond Price Trend for the First Half of 2023

During the first half of 2023, the diamond prices have seen a steep fall of about 6.5% within the six months, down by about 18% from their all-time high value in Feb '22. There are several factors associated with this monumental depreciation in the diamond market.

As for the last couple of years, people have been locked inside their houses because of the COVID-19 pandemic, travel, and other experience related expenditures took a serious hit, and all that wealth got pivoted to such assets like expenditures like diamonds.

But since restrictions are over now, and travel is open, the monetary spending has been restructured. Also, the social concerns of poor mining conditions and the threat to the environment attached to natural diamonds are pushing people away. But the major push is being given by artificial diamonds, which are cheaper with no difference in properties and also don't need mining in inhuman conditions. About 90% of the world's diamonds are cut and polished in India; the export of polished artificial diamonds has gone up to about 9% from about 1% five years ago.

Analyst Insight

According to Procurement Resource, with the diamond market downsizing, the prices are expected to fall further.

Diamond Price Trend for Second Half of 2022

The price trend for diamonds showcased a see-saw trend throughout the third and fourth quarters of 2022. In the last two quarters, despite the negative patterns in the earlier quarters, the prices of 2-carat and 10-carat ranges grew.  The improved condition of the diamond market was due to the high confidence of producers in the demand sector and the easing of covid restrictions in China. The price trend for diamonds were positively affected by the supportive diamond market and the imbalance in the supply-demand equilibrium.

However, during the end months of 2022, diamond prices suffered as no major advances in mining outputs coupled with the doom of recession over the global market exerted a negative impact on revenues and profit margins of producers in the Asia-Pacific region. The region also suffered from the elevated raw material cost and cuts in operating profit margins which further aided the decline of the prices of diamonds.

Analyst Insight

According to Procurement Resource, the price trend for diamonds are likely to remain volatile in the upcoming quarter. As the market conditions remain unstable due to the fluctuations in demand and the fear of recession looming over the global market, diamond prices are expected to swing with these trend.

Diamond Price Trend For the First Half of 2022


The Indian jewellery industry is currently reeling under stress owing to the constricted supply and rising operating and transportation costs. The industry has passed the burden of price rises to consumers to protect their shrinking profit margins.

The raised diamond prices were due to the recovery measures undertaken by the jewellery industry to cover the losses incurred during the peak covid-19 season. With the US imposing sanctions against the biggest producer of rough diamonds, Alrosa (Russia), the prices in the Indian market have shot up by 30% for rough diamonds.

The Indian producers are facing a double whammy surge in diamond prices and dipping demand. With covid restrictions in China, the demand for Indian polished diamonds declined. Also, the diamond prices surged further as the US and European buyers insisted on certificates of origin after sanctions against Russian diamond exports.


With US and Europe imposing sanctions on Alrosa- the biggest diamond mining company, the global supply of rough diamonds was slashed by 40%. The price of a small diamond, usually clustered around a solitaire ring, jumped around 20% due to market conditions. The price trend of diamonds soared throughout the European market and are likely to keep on the higher side of the scale for the upcoming months.

Procurement Resource provides latest prices of Diamond. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Diamond has its atoms organised in a crystal structure known as diamond cubic, and is a solid form of the carbon element. As the arrangement of atoms in diamond is extremely rigid, it has the highest hardness and thermal conductivity of any natural material. The properties of diamond are utilised in most of the commercial applications for example cutting and polishing tools. In appearance, Diamond can range from yellow, brown, or grey to colourless.

Product Details

Report Features Details
Product Name Diamond
Chemical Formula C
Industrial Uses Gems and jewellery, Automotive, Aerospace and defense, High power electronics, Lasers and optics, Materials, physics, and energy R&D
Molecular Weight 12.01 g/mol
Supplier Database De Beers Group (Anglo American), Applied Diamond Inc, Industrial Diamond Laboratories, Inc, Lucara Diamond Corp. (Lundin Group of Companies), Petra Diamonds Limited, Gem Diamonds
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Diamond via Mining, Cutting and Polishing

Diamond is extracted and mined in factories from there it undergoes a series of steps. These steps involve cutting and polishing of diamonds before its commercial use.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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