Diamond Market Trends July 2023

Posted by:
Hemang Soni
July 21, 2023

US Wholesale Certified Natural Diamonds

Broader Market Observations

Inventory turn with wholesalers in the US seems to be slightly improving over the last quarter although nowhere close to 2021 levels. Since prices continue to fall, wholesalers are vary of increasing their stock but continue to replenish stock sold to downstream retailers.

Inventory - Diamond inventory levels with wholesalers in the US has broadly remained about the same over the last 6 months.

Prices - While prices had seemed to have briefly stabilized right before the JCK trade show, they have continue to fall since then.

Turn - Even though prices have fallen, inventory seems to continue to move and has actually resulted in a slightly improved turn of inventory over the last quarter.


Inventory turn of Ovals continues to outperform other shapes whereas markets show some recovery in inventory turn in Round and Emerald categories. Cushions seem to be vastly underperforming primarily due to large inventory and lackluster sales.


Trends across carat categories remain broadly consistent with broader markets. Some recovery in turn over the last quarter, however, significantly lower than 2021.


D-F colors are turning better than J-K colors over the last quarter defying trends from 2021 and 2022. G-I color inventory also seems to be improving over the last quarter although nowhere close to 2021 levels.


While SIs were turning faster in 2021, they are now turning about the same as VS and VVS clarity stones.

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