The quiet run reaches its test: De Beers Sight 9 opens today, with no result yet and the board unchanged since September's RAPI

💎 Polished — Quotes sit where September's RAPI left them, with the 0.50-carat index up 2.5% and the 1-carat index up 0.3% for the month, so the small-stone lead is still the only firmness on the board and there is nothing to requote this morning. The currencies remain within the quoting threshold, with the rupee flat near 94.9 to the dollar and the shekel (3.12) and euro both sitting within the band.

Gold near $4,022 an ounce is barely changed, and the smaller decline it now shows, down 3.5% since September 28 against yesterday's 7.25% since September 25, reflects the base date moving forward rather than a recovery. In any case, it is a jewelry-metal cost signal rather than a stone-price one.

📅 On the radar — De Beers Sight 9 opens today and runs through October 30, the first dated test of whether September's small-stone firmness reaches rough demand and the event the board has been waiting on since the September RAPI. There is no result on the opening day, since De Beers does not comment sight by sight and any sightholder estimates tend to surface through the trade press later in the week, so today changes the calendar rather than the price.

The sight opens alongside the Dubai Diamond Conference from October 26 to 27 and the JGTD Dubai fair from October 27 to 29, with JA New York Fall also running from October 25 to 27. The October RAPI in early November is the next firm price reading.