Third quiet session: the board holds as the first dated catalysts come into view, with the Miami show five days out and the De Beers October sight closing the month

The board sits where the September RAPI left it when it printed on October 6: the small end led, with the 0.50ct index up 2.5% for the month against a slim 0.3% at one carat, and the two sessions since have neither extended nor reversed it. The macro side gives nothing to trade on either, with the shekel and the rupee both under half a percent on the week and gold's monthly slide eased back below the 5% line that reaches jewelry cost.

The catalysts are dated and still ahead. The next hard reads are De Beers' October sight (26 to 30 October), the quarter's clearest signal on rough pricing, and the October RAPI in early November, which tests whether September's small-stone lead held or faded. Before then JIS Fall opens in Miami on the 16th and the Dubai Diamond Conference and JGTD fill the 26th to 29th. Two watch-items carry over from last week: Botswana's response on the De Beers stake, flagged for mid-October, and a reported US-India tariff step still unconfirmed for around the 18th.