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In November 2025, the U.S. natural polished diamond market continued to show signs of cautious adjustment as pricing pressure persisted across several segments. Smaller natural diamonds faced sharper declines, while premium categories held steadier thanks to focused demand and limited availability. Retailers remained selective with restocking, shaped by tighter inventory flows and shifting consumer priorities heading into the holiday season. At the same time, November’s shape search trends reflected strong interest in classic styles, with round diamonds extending their lead and subtle movements occurring among fancy shapes. The combined price and shape data reinforce a market defined by segmentation, measured buying behaviors and ongoing comparison between natural and lab-grown options.
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Round Diamond Price Chart
% change of the average ROUND natural diamond carat price of D-I color and VVS2-SI2 on PriceScope.com since Jan 1, 2008 – Nov 1, 2025
| ROUNDÂ Natural Diamond Price Changes For The Last 3 months | |||
| Diamond Carat Sizes | 9/1/2025 | 10/1/2025 | 11/1/2025 |
| 0.0 – 0.5 | 0 % | 0 % | -3 % ↓ |
| 0.5 – 1.0 | 10 % ↑ | 4 % ↑ | -3 % ↓ |
| 1.0 – 2.0 | 7 % ↑ | 6 % ↑ | 1 % ↑ |
| 2.0 – 3.0 | 5 % ↑ | 7 % ↑ | -1 % ↓ |
| 3.0 – 4.0 | 4 % ↑ | 4 % ↑ | -1 % ↓ |
| 4.0 – 99 | 2 % ↑ | 2 % ↑ | 1 % ↑ |
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October and early November 2025 saw the U.S. natural-diamond market remain under pressure, with the RapNet Diamond Index for 1-carat D–H / IF–VS2 polished natural diamonds falling around 1.7% in October. Natural diamonds under 1.20 carats and those in the 0.50-carat range showed sharper declines of 4.4% and 2.8% respectively, indicating the weakest demand was concentrated in the smaller carat tiers. Meanwhile luxury and larger size segments such as 3-carat natural diamonds held broadly steady or improved, reinforcing the widening premium-versus-volume split.
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From a trade and supply perspective, tightened inventory flows and cautious restocking in U.S. retail channels continued to shape the market. The overall picture is one of a segmented environment, with premium polished natural diamonds remaining relatively resilient thanks to scarcity and focused demand, while mid and lower grades face a more challenging landscape as substitution by lab-grown diamonds, softer consumer spending and shipment-routing headwinds continue to weigh on prices.
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November diamond prices reflected a measured market adjusting after October’s mixed performance. The top end saw gentle softening, the mid-range continued to show selective buying, and lower grades held relatively steady. Lab-grown diamonds remained influential in volume segments, while natural diamonds continued to display clear separation based on both color and clarity.
Premium Grades
The high color and high clarity categories experienced modest corrections in November, following the strength in October. D FL declined to $16,222 from $17,607, while D IF inched upward to $13,837 from $13,117, suggesting a focused return to slightly more attainable premium goods. D VVS1 moved to $10,840 from $10,967, and D VVS2 remained close to steady at $8,275 compared with $8,292 the previous month. E FL held near its October level at $12,107 compared with $12,011, while E IF gained ground, rising to $10,997 from $10,580. One of October’s standout performers, F IF, eased to $10,452 from $12,005, giving back some of its earlier momentum.
Overall, the premium segment paused to recalibrate rather than signaling any underlying weakness. Buyers remained engaged, but the corrections suggest a brief period of reassessment leading into the holiday season.
Mid-Range Grades
Mid-range categories continued to follow value-centred buying habits with a mix of slight declines and isolated firming. F VVS1 increased to $9,567 from $9,294, reflecting ongoing interest in high-clarity F color stones. E VVS2 softened to $8,126 from $8,421, while G VVS2 moved to $6,260 from $6,391. F VS1 showed little movement, recording $7,830 against $7,820 in October. G VS2 adjusted to $5,276 from $5,168, and H VS2 eased to $3,429 from $3,471.
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The mid-tier remains defined by a strong preference for higher colors, particularly D through F, while stones at G and below face more caution from buyers conscious of both price and visual appearance.
Lower Grades
Lower-grade categories continued to stabilize with a blend of gentle declines and selective improvements. J SI1 slipped to $2,227 from $2,274, and J VS2 moved to $2,945 from $3,014. K SI2 recorded $2,039 in 2015, compared with $2,039 the month before. Some categories displayed resilience, including G SI1, which strengthened to $4,299 from $3,993, indicating targeted demand for well-cut stones even at commercial clarity levels. I SI1 eased to $3,054 from $3,151, though it remains within a steady pricing channel. Entry-level demand stayed consistent as shoppers sought stones that balanced appearance with affordability, particularly as the holiday season approached.Â
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Market Implications
The combined October and November results point to a market that is adjusting rather than shifting dramatically. Premium categories experienced mild pullbacks after earlier gains but continued to attract buyers seeking rarity and strong color. Mid-range goods followed predictable value patterns with cut quality, color, and price acting as the main differentiators. Lower grade categories hovered near an emerging floor, supported by steady seasonal demand and an emphasis on finding value at accessible price points.
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As year-end approaches, the market remains shaped by a balance of scarcity, substitution pressure from lab-grown options, and cautious consumer purchasing.
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Popular Diamond Shapes
Consumer interest in the Top 5 Popular Natural Diamond Shapes in November 2025 continued the broader trends established in October, with classic silhouettes maintaining their lead and subtle shifts emerging within the fancy-shape categories.
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Round diamonds strengthened their position, rising from 66.87% in October to 68.31% in November, representing a 1.44% increase. This reaffirmed their status as the preferred choice for most buyers, supported by the round brilliant’s reliable consistency, strong visual performance, and broad appeal across both modern and traditional design preferences.Â
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Cushion diamonds, which had cooled slightly in October, continued to ease in November, decreasing from 10.94% to 10.17%, a decline of 0.77%. The soft adjustment suggests the category is still normalizing after earlier surges in demand tied to vintage revival trends and the broad variety of cushion styles available on the market.Â
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Oval diamonds experienced a slight pullback, dipping from 7.70% in October to 7.24% in November, a decrease of 0.46%. Although slightly lower, the oval shape continues to hold steady appeal among consumers who favor elongated silhouettes and a contemporary feel, especially in engagement settings.Â
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Emerald diamonds experienced renewed momentum, increasing from 4.82% in October to 5.30% in November, a gain of 0.48%. Their rise indicates continued interest in clean lines and step-cut geometry, appealing to shoppers who value clarity, symmetry, and understated elegance.Â
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The pear shape returned to the top five in November at 2.13%, replacing radiant diamonds, which held the fifth position in October. The re-entry of the pear suggests a gradual resurgence of interest in distinctive silhouettes that offer both elongation and a unique sense of movement, particularly among buyers seeking visually expressive options outside the traditional offerings.
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Together, the October and November results reveal a market anchored by the timeless appeal of the round brilliant, with the surrounding fancy shapes reflecting ongoing shifts in style preferences, seasonal buying patterns, and the influence of design trends across the jewelry sector.
PRO TIP: When shopping for loose natural diamonds, it’s important to consider factors like cut quality and vendor services, such as upgrade options and return policies, which can significantly influence the price.
