A quiet session: the stones hold where August left them into a September RAPI now expected around October 9, with the reported U.S. tariff on Indian goods the next dated marker after it

The stones have not moved since August, the most recent RAPI that Rapaport has published. That report left the one-carat index only just positive, up 0.5% for the month, with the smaller goods ahead of it. It is the same narrow picture D-Loupe has carried since late August, with the firmness concentrated in the smaller stones and not yet reaching one-carat goods.

The September RAPI is what settles whether that firmness has broadened, and after slipping from the start of the month, it is now expected around October 9. The two calls D-Loupe set to resolve on October 2 remain open until it prints. The next dated marker after that is the reported U.S. tariff escalation on Indian gem and jewelry goods, which exporters are rushing to beat before an October 18 deadline.