Quiet holds since September's RAPI, but the drought breaks next week as De Beers Sight 9 runs from October 26 to 30

💎 Polished — Prices have not moved since September's RAPI, so the 0.50ct at +2.5% and the 1ct at +0.3% remain the last real reading, and the small-stone lead is still the only firmness on the board. Nothing today clears the bar to change that: the rupee firmed to 94.47 per dollar (0.73% on the week, inside the noise band), and the shekel sits at 3.09, while the one move past a threshold, gold down 6.14% since September 22, is a jewelry-metal cost signal rather than a stone-price one.

📅 On the radar — The data drought ends next week. De Beers Sight 9 runs from October 26 to 30, the first real read on rough pricing since the September sale and the test the board has been waiting on. It opens alongside JA New York from October 25 to 27 and the Dubai Diamond Conference from October 26 to 27.

Our read is that the coming briefs should carry real movement rather than another standing picture, with the sight the single event most likely to set the tone into November.