Diamond Price Index Falls 70% from Peak in 2011

The Bloomberg Diamond Standard Index fell by approximately 70% from its 2011 peak to November 2026 – from 8,450 to 2,500 points. The IDEX polished diamond price index also nearly halved since March 2022 – from approximately 158 to 80 points.

Lab-grown diamonds increase pressure on demand

According to a study by The Knot, in 2025, lab-grown center stones were used in 61% of engagement rings purchased by surveyed couples in the US. In Q3 2026, certain categories of certified lab-grown diamonds weighing 1 carat were sold on the wholesale market for less than $90 per carat. This price difference intensifies competition with natural stones.

The market is also affected by the end of the period of heightened jewelry sales in 2021 – early 2022, weak demand in China, and the tightening of US monetary policy. In September 2026, the Federal Reserve raised the rate by 0.25 percentage points. An additional factor was the US tariffs on goods from India – a major cutting center: previously the rate reached 50%, then it was reduced to 18%.

De Beers sells more diamonds at a lower price

According to Anglo American's report, in Q3 2026, De Beers increased sales of rough diamonds by 71% year-on-year, to approximately 9.77 million carats. However, the average realized price decreased by 45%, to $84 per carat, following a price revision in July.

The US import price index for diamonds in September was 97.6 points with a base year of 2000 set at 100.

Anglo American prepares to sell De Beers

In November, the president of Botswana supported a consortium led by former De Beers head Gareth Penny as a potential buyer of Anglo American's stake. According to media reports, the valuation of the entire company in the discussed deal is about $1 billion, but final terms have not been approved. In 2011, Anglo American agreed to acquire 40% of De Beers from the Oppenheimer family for $5.1 billion; this was the price of the stake, not the entire company.