International News
Gemfields’ Higher-Quality Emerald Auction Fetches $26.8 Million
Strong Demand Continuing For Top-Tier Stones Despite Broader Market Caution Driven By Geopolitical Tensions and Macroeconomic Uncertainty.
Gemfields reported revenues of $26.8 million from its latest higher-quality rough emerald auction, with strong demand continuing for top-tier stones despite broader market caution driven by geopolitical tensions and macroeconomic uncertainty.
The auction, held from 4 to 21 May 2026, saw 36 of 37 lots sold, representing a 97% sell-through rate. Of the 185,135 carats offered, 183,385 carats were sold, achieving an average realised price of $146.08 per carat.
The rough emeralds were mined by Kagem in Zambia. Buyers viewed the lots in Bangkok before bidding through Gemfields’ online sealed-bid auction platform.
Adrian Banks, Gemfields’ MD- Product & Sales, said:
“While demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty…Competition and pricing for the top-tier emeralds remained particularly strong.”
Banks also pointed to the Indian rupee’s roughly 10% depreciation against the US dollar since Kagem’s previous higher-quality auction in September 2025 as an added challenge for many customers.
International News
Diamond Price Gains In Sept Led By Small, High-Quality Stones
US Retail Demand Strengthened, Particularly For 1–2 Ct (F–I, VS2–SI2) and 2+ Ct Stones. Lower-Quality Smaller Goods Remain Under Pressure From Lab-Grown Diamond Competition.
Diamond prices continued their upward trajectory in September—traditionally a slow month—driven by reduced production and rising demand. Round diamonds consistently outperformed fancy shapes.
US Market & Trading Sentiment: US retail demand strengthened, particularly for 1–2 ct (F–I, VS2–SI2) and 2+ ct stones. Lower-quality smaller goods remain under pressure from lab-grown diamond competition. Holidays in the US, Belgium, Israel, and India temporarily slowed regional trading.
Trade Show Trends (Hong Kong JGW): Show results were mixed: strong demand for finished jewelry and 2+ ct natural diamonds offset weak interest from Chinese buyers and sluggish movement in smaller, low-clarity goods.
Corporate & Supply Restructuring:
- De Beers is set to acquire Mountain Province’s 49% stake in the Gahcho Kué mine under a debt-restructuring agreement.
- Anglo American’s ongoing process to sell De Beers maintains broad market uncertainty, while recent De Beers rough sights indicate cautious buying.
- Petra Diamonds is evaluating strategic options, including potential asset sales.
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