Several factors have contributed to the rise of synthetics.
Minister of employment and economy is looking to reserve the term “diamond” for natural only.
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Market Comment: March 5, 2026
US-Israel-Iran war shakes sentiment.
Iranian attacks on Dubai disrupt global rough and polished trade.
Impact on Indian manufacturers uncertain.
Dubai and Israeli diamond exchanges essentially closed; imports and exports frozen.
Rough tenders move to Antwerp.
Lack of Middle East attendees noticeable at Hong Kong shows.
Hong Kong diamond section reflects market split, with steady trading in 3 ct.+ goods despite low traffic. Buyers few but serious.
Feb. 1 ct. RAPI -1.3%; sharper decline in US prices, as market anticipated tariff abolition. RAPI up for 0.30 ct., 0.50 ct. and 3 ct. diamonds. Prices of 5 ct.+ rough increase at tenders.