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In October 2025, the U.S. natural polished diamond market continued to reflect a segmented structure, shaped by evolving trade policy, tight supply, and cautious consumer sentiment. While premium diamonds in top color-clarity categories held their ground, mid- and lower-tier segments faced uneven demand as buyers weighed natural options against increasingly competitive lab-grown alternatives. Simultaneously, notable shifts in shape preferences and tariff adjustments have added new routing and sourcing dynamics that may influence market flows into year-end.
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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 – Oct 1, 2025
| ROUNDÂ Natural Diamond Price Changes For The Last 3 months | |||
| Diamond Carat Sizes | 8/1/2025 | 9/1/2025 | 10/1/2025 |
| 0.0 – 0.5 | -1 % ↓ | 0 % | 0 % |
| 0.5 – 1.0 | -4 % ↓ | 10 % ↑ | 4 % ↑ |
| 1.0 – 2.0 | -1 % ↓ | 7 % ↑ | 6 % ↑ |
| 2.0 – 3.0 | 0 % | 5 % ↑ | 7 % ↑ |
| 3.0 – 4.0 | -1 % ↓ | 4 % ↑ | 4 % ↑ |
| 4.0 – 99 | -1 % ↓ | 2 % ↑ | 2 % ↑ |
Polished diamond prices in the U.S. continued to ease through September, with the IDEX Polished Price Index down 2.08% for the month, following a smaller 0.99% decline in August. Rounds outperformed fancy shapes, while premium natural diamonds in the D–F color and VS–VVS clarity range remained relatively stable, supported by scarcity and investor-led demand. Softer retail spending and lingering inventory from the summer kept pressure on mid- and lower-grade stones, though select high-quality goods continued to find buyers.
Trade developments reshaped the market landscape. The Antwerp World Diamond Centre reached an agreement with the U.S. that will make EU-polished natural diamonds tariff-free from September 1, strengthening Antwerp’s competitive position. Meanwhile, Indian goods remain subject to import duties of up to 50%, a factor that could shift supply routes and pricing dynamics into year-end.
October diamond prices eased modestly at the premium end, reflected continued selectivity in the mid-range, and showed slight firming across certain lower-grade categories. Lab-grown diamonds remained a factor in volume-driven markets, while natural diamonds demonstrated sustained segmentation by color and clarity.
Premium Grades
Top-end categories experienced a brief pause following September’s price gains. D/FL held steady at $17,607, virtually unchanged from $17,542, while D/IF slipped slightly to $13,117 (from $13,504). E/FL eased to $12,011 (from $12,950), and E/IF declined to $10,580 (from $11,467). F/IF was the outlier, firming to $12,005 from $10,589, regaining earlier ground.
Overall, this segment showed signs of consolidation after sustained strength in recent months. Buyer activity remained focused on color and rarity, but the small pullback in D and E colors suggests a short-term correction rather than structural weakness.
Mid-Range Grades
The mid-tier segment displayed mixed results consistent with value-driven buying trends. F/VVS1 increased modestly to $9,294 (from $9,185), while E/VVS2 eased to $8,421 (from $8,493). G/VVS2 softened to $6,391 (from $6,532), whereas F/VS1 held firm at $7,820 versus $7,830. G/VS2 declined slightly to $5,168 (from $5,371), while H/VS2 remained relatively stable at $3,471 compared with $3,563.
This continued pattern of small adjustments reflects a stable but discerning market. Demand continues to favor high-color mid-range diamonds, while stones below G-color face measured price resistance.
Lower Grades
In the lower segments, early price stabilization persisted with selective upward movement. J/SI1 edged lower to $2,274 from $2,339, while K/SI2 slipped to $2,039 (from $2,074). G/SI2 was steady at $3,158 versus $3,114, and I/SI1 showed moderate improvement to $3,151 from $2,849.
The segment continues to benefit from incremental demand where pricing meets entry-level expectations, though overall sensitivity to clarity remains evident.
Market Implications
October’s results point to a more measured market environment following September’s price gains. Premium categories consolidated after earlier gains, mid-range stones remained steady with color driving differentiation, and lower-grade categories continued to hover near a developing floor. The balance of scarcity and consumer substitution pressures remains the defining feature as the market approaches the end of the year.
Popular Diamond Shapes
Consumer preferences across the Top 5 Popular Natural Diamond Shapes in October 2025 reflected subtle shifts in demand, with classic cuts maintaining dominance and slight variations emerging among fancy shapes.
Round diamonds continued to lead decisively, increasing from 65.25% in September to 66.87% (+1.62%). This modest rise reinforces the round brilliant’s enduring appeal and its position as the industry benchmark for brilliance and versatility.
Cushion diamonds, which saw a strong surge in September, adjusted lower to 10.94% from 12.75% (-1.81%). The correction suggests the market may have reached a short-term equilibrium following recent heightened interest in vintage-inspired styles.
Oval diamonds edged higher to 7.70% from 7.48% (+0.22%), continuing their consistent performance. Their balanced combination of elegance and elongation continues to attract steady consumer attention, particularly among engagement ring buyers seeking a modern look.
Emerald diamonds also showed a slight improvement, moving from 4.68% to 4.82% (+0.14%). The step-cut shape maintains its niche following among consumers valuing understated sophistication and architectural geometry.
Radiant diamonds re-entered the top five in October at 2.47%, replacing the pear shape, which slipped out of the leading group. The radiant’s hybrid brilliance and rectangular outline appear to be resonating with buyers seeking an alternative to more traditional cuts.Â
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.
