The price index for 1-carat diamonds fell again in January 2026, this time by 1.3%, although the decline was more moderate than in previous months, reported the specialized agency Rapaport, which calculates the industry benchmark RapNet Diamond Index (RAPI).
This position includes 1-carat round diamonds with colors ranging from D to H and clarities from IF to VS2.
In December, there was a decline of 2.3% in this segment, and for the entire year of 2025, the index fell by 10%.
Buyers remained cautious due to price uncertainty, the impact of customs tariff policies, and geopolitical tensions, but a trade agreement between the U.S. and India in early February improved sentiment.
The RAPI index for 0.3-carat diamonds fell by 1.3%, and by 1.2% for 0.5-carat stones. The index for 3-carat diamonds decreased by 1.6% in January.
The Indian jewelry market declined due to high gold prices, and demand in China remained weak, notes Rapaport.
The drop in De Beers diamond prices in January raised concerns about flooding the market with cheaper products. Last year, the influx of lower-cost rough diamonds from Angola and Russia contributed to the weakening of the market for polished diamonds weighing less than 1 carat, according to the press release.
The decline in diamond prices has continued since June 2025, when concerns over rising U.S. import duties, an excess of less sought-after items, and seasonal slowdown in activity affected them. Prior to this, from February to May, diamond prices had been rising.
