The global diamond trade recorded mixed performance in February as shifting tariff policies and broader geopolitical developments created uncertainty across key trading centres.

According to market reports, prices in the United States declined during the month, while prices for diamonds located in other trading regions moved unevenly depending on size and quality categories. The volatility was linked largely to changing tariff expectations affecting the international diamond supply chain.

Market sentiment remained cautious as traders assessed the potential impact of new and revised trade policies affecting the movement of diamonds between major markets. Uncertainty over tariffs has been a recurring concern for the industry in recent months, influencing purchasing decisions and trading activity.

At the same time, geopolitical tensions added another layer of uncertainty to the market environment. Early March developments involving conflict in the Middle East raised concerns about possible disruption to trading routes and logistics. Dubai, a key hub for both rough and polished diamond trading, is particularly sensitive to such developments given its central role in global diamond distribution.

The diamond market has already been navigating a period of subdued demand and cautious buying, particularly in the US market. Traders continue to monitor policy shifts and geopolitical developments closely, as these factors could influence supply flows, pricing stability and trading activity in the months ahead.