Demand Shifts to Smaller Goods as De Beers Tightens the Pipeline

During the July sales cycle, De Beers cut official rough-diamond prices and narrowed its sightholder roster from roughly 70 to 45–50. The primary pipeline is consolidating into fewer hands, reducing flexibility across the supply chain.

The RAPI is mixed this month: the 0.50 ct index rose 0.85%, while the 1 ct index slipped 0.34%. Demand recovery is beginning with smaller, faster-turning goods rather than larger stones.

Gold retreated 2.4% over the month to $4,114/oz, while USD/ILS held near 3.01, up 0.26% for the week. A stable macroeconomic backdrop helps contain inventory-financing costs.

De Beers' move to align official prices more closely with secondary-market levels removes a pricing anchor the trade has relied on for years. The fixed premium between primary and secondary goods can no longer be assumed.

Vicenzaoro opens in Vicenza on September 4, marking the autumn season's first major gold and jewelry event.