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GIA Examines World’s Second Largest Diamond, the 2,488-Carat ‘Motswedi’

GIA conducts detailed analysis of the 2,488.32-carat ‘Motswedi’ diamond, the world’s second-largest, at its Gaborone laboratory.

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The Gemological Institute of America (GIA) has conducted an in-depth examination of the world’s second-largest known diamond — a spectacular 2,488.32-carat rough stone named Motswedi — at its advanced laboratory in Gaborone, Botswana.

Discovered in August 2024 by Lucara Diamond Corporation at the renowned Karowe mine, the diamond initially weighed 2,492 carats at the time of recovery. It now ranks just behind the legendary Cullinan diamond, a 3,106-carat gem unearthed in South Africa in 1905, in terms of size. The newly discovered stone was officially named Motswedi, which means “water spring” or “source” in Setswana, following a public naming competition in Botswana — a symbolic gesture honoring its national significance.

GIA’s scientific team has confirmed that Motswedi is a single, gem-quality, type IIA diamond crystal, making it the largest known diamond of this type. Type IIA diamonds are extremely rare and chemically pure, with no detectable nitrogen impurities. What sets Motswedi apart is not only its size but also its internal quality — the stone is divided into multiple large, gem-quality blocks with minimal inclusions, suggesting exceptional potential for high-value polished gems.

The slight reduction in weight — from 2,492 carats to 2,488.32 carats — is attributed to the loss of approximately 1.50 carats in micro-fragments during the cleaning and handling process by the mining company, a standard part of rough diamond recovery and preparation.

Since its opening in 2012, the Karowe mine has built a reputation for yielding some of the largest and most valuable diamonds in the world. The discovery of Motswedi further cements Karowe’s standing as a globally significant source of extraordinary stones, continuing Botswana’s legacy in the world of diamond mining.

The GIA’s comprehensive analysis of Motswedi has been documented in a detailed article authored by Tom Moses and Dr. Wuyi Wang, now available on the Institute’s official website. Their findings offer critical insights into the geological formation, structure, and gemological properties of this unprecedented diamond.

Founded in 1931, the Gemological Institute of America is the world’s leading authority in gemology. The nonprofit organization is best known for developing the 4Cs grading system (cut, color, clarity, and carat weight) and the International Diamond Grading System™, both of which continue to serve as the global standard for evaluating diamond quality. The GIA’s continued role in examining historic stones like Motswedi underscores its mission to ensure public trust through research, education, and unbiased gem evaluation.

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International News

WGC Gold Demand Trends- Q1 2026: Bar and Coin Buying Drove Q1 Demand 

Global Demand Hit a New Record High Value Total Q1 Gold Demand, Including OTC, was 2% Higher y/y at 1,231t

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Total Q1 gold demand, including OTC, was 2% higher y/y at 1,231t. This modest growth in volumes, combined with gold’s exceptional price rise, generated a 74% jump in the value of quarterly demand to a record US$193bn. 

Bar and coin demand of 474t (+42%) was the second-highest quarter on record. Asian investors led the charge, hoovering up gold investment products. 

Buying of gold-backed ETFs continued in Q1 (+62t), but at a lower rate than the very strong Q1’25 (+230t) following sizable outflows from US funds in March.

Amid record high gold prices, jewellery demand volumes remained under pressure (-23% y/y), while levels of spend again increased (+31%), signalling continued positive sentiment towards gold jewellery. 

Central banks bought 244t (+3% y/y) of gold on a net basis in Q1 despite a visible uptick in selling activity during the quarter.  

Demand for gold used in technology edged 1% higher to 82t, fuelled largely by the continued growth in AI infrastructure.

Highlights

  • The LBMA (PM) gold price set a new quarterly average record of US$4,873/oz. The price hit a historical high of US$5,405/oz in January, followed by a notable correction. During Q1, the gold price returned 6%.
  • The supply of gold increased in Q1 by 2% y/y to 1,231t. Modest growth in mine production, together with a 5% uptick in recycling, generated the increase.
  • Investment demand now far exceeds fabrication. Weaker jewellery demand alongside growing investor interest in gold has changed the composition of demand in recent years.

Outlook

  • Geopolitics remain front and centre in our outlook for gold demand in 2026. Our view remains that investment and central bank demand will be supported by ongoing geopolitical risk, with further investment impetus from elevated inflation and persistent high gold prices. Jewellery demand will remain under pressure for similar reasons, albeit that spending will likely remain resilient. 

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