Natural Diamond Prices – November 2024

Published on: November 8th, 2024

At PriceScope, we remain committed to delivering timely and insightful updates on the diamond market’s latest trends. Our expert analysis focuses on the economic and social changes that shape consumer behavior and influence the pricing of natural diamonds.

The natural diamond market continues to evolve, making it essential to understand these shifts for informed purchasing decisions. Staying up-to-date on the latest market trends and key drivers allows you to approach your investment in natural diamonds with confidence.

In this month’s update, we’ll examine how the economic and market conditions of October 2024 have impacted the Popular Diamond Shapes Chart and natural diamond pricing trends in November.

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Popular Diamond Shapes

In November 2024, round diamonds continued to lead the market as the most popular shape, representing 74.95% of the total market share. However, this marks a 6.80% decline from their October figure of 80.42%.

The oval cut maintained its position as the second most popular shape, experiencing a notable increase of 10.43% compared to October’s 4.70% share. This upward trend solidifies the oval cut’s standing as a top choice for consumers seeking a unique yet classic look.

Cushion cuts held steady in third place, showing significant growth of 20.20%, up from their 4.01% share in October. This consistent rise in popularity highlights the cushion cut’s enduring appeal for those who appreciate its vintage look.

The emerald cut retained its position in fourth place but saw a substantial increase in interest, climbing by 33.64% from October’s 3.30%. This jump reflects a growing consumer preference for its sleek and elegant style.

Notably, the princess cut, previously fifth in October at 2.47%, has fallen out of the top 5. Taking its place is the pear cut, which surged to a 3.89% market share, a 57.49% rise compared to the princess cut’s October standing. This shift indicates an evolving consumer taste, favoring the pear shape‘s distinctive and graceful silhouette.

Round Diamond Price Chart

Round Diamond Price Changes For The Last 3 months
Diamond Carat Sizes	9/1/2024	10/1/2024	11/1/2024
0.0 – 0.5	-5 % ↓	0 %	-1 % ↓
0.5 – 1.0	-4 % ↓	-3 % ↓	-2 % ↓
1.0 – 2.0	-4 % ↓	2 % ↑	-3 % ↓
2.0 – 3.0	-6 % ↓	-1 % ↓	0 %
3.0 – 4.0	-5 % ↓	-1 % ↓	0 %
4.0 – 99	-4 % ↓	-1 % ↓	0 %

Average Price Per Carat For a Round Diamond

In November 2024, the natural diamond market showed a general softening in average prices per carat for round diamonds within the 1.00-1.19 carat range. Premium grades, such as D/FL and D/IF, experienced price declines, with D/FL dropping from $12,698 in October to $11,630 in November. Mid-range grades like G/VVS2 also saw slight decreases, moving from $6,295 to $6,193, signaling potential market adjustments at various levels.

Lower color grades remained more stable, with minimal fluctuations. For example, J/VS1 saw a slight rise from $3,243 to $3,258, while K/SI1 experienced a small decrease from $2,190 to $2,216. These subtle shifts suggest a nuanced response to broader economic conditions impacting consumer behavior.

Overall, the natural diamond market in November 2024 reflects an adaptive landscape marked by a softening of prices, especially in higher clarity and color grades. These changes point to evolving consumer preferences and the influence of economic trends on diamond purchasing decisions.

When shopping for loose diamonds, it’s important to consider that factors like cut quality and vendor services—such as upgrade options and return policies—can significantly influence the price. At PriceScope, we’ve been tracking retail diamond prices since 2007, with over 1,000,000 diamonds currently in our database. Our Diamond Price Chart page offers comprehensive price insights for both round and fancy-shaped diamonds, updated monthly. Be sure to check back for December’s natural diamond price updates.

As we approach the end of 2024, the natural diamond market continues to reflect nuanced shifts influenced by consumer behavior and economic conditions. December will play a critical role in confirming the trends observed throughout Q4 and shaping expectations for early 2025. For those closely following these developments, your insights and questions are valuable. Share your thoughts or reach out to an industry expert by clicking the comments button below.

Whether you’re in the market for natural diamonds or just exploring your options, be sure to visit the PriceScope Diamond Search.