Tariffs on Diamonds and Jewelry? Now WHAT?

Gold is having a serious moment. The price of gold futures has hit multiple record highs this year—over $3,100 an ounce. That’s wild. So the question on everyone’s mind is… does that mean lab diamond prices are going to go up too?

Let’s break it down. As of today, a new 10% universal tariff has officially taken effect—and it's set to impact jewelry and diamond imports from major trade partners like China, Canada, Mexico, Europe, the UK, Thailand, and India. If you’re in the market for a diamond, you might be wondering: “Do I wait? Do I buy now? Is gold about to be out of reach?”

Welcome back to another By Bonnie blog, where we talk about all things diamonds and craftsmanship. Today I’m sharing some buzz that’s shaking up the jewelry world, and how it may directly affect you.

Let’s Talk About Diamonds

So—will diamond prices go up?

If you've been following along, you might remember a blog I wrote about a year ago on how diamond prices were trending down. That includes both natural and lab-grown diamonds. Since then, I've been flooded with messages:
"Bonnie, are prices still going down?"
"Is now the right time to buy?"

The short answer: it depends.

Lab diamonds have significantly shifted the market. Especially in the natural category—mainly between 0.50ct to 1.00ct. Why? Because now, with the same budget, buyers can get something larger in a lab diamond. That shift hit the natural market hard in that sweet spot range.

But here’s where the new tariffs come in: a huge portion of lab diamonds are manufactured in India and China. Not only that, many natural diamonds are polished in India as well. So if those countries are affected by tariffs, we could see an increase in prices—on both sides.

I say could because… well, we just don’t know yet. Prices might stabilize, or go up slightly. Or, if you love natural diamonds and prices are still relatively low, now might actually be the perfect time to buy.

Gold Is On Fire

Gold has officially hit over $3,100 per ounce. That’s the highest it’s ever been.

If you’re not someone who tracks gold futures, this might sound like background noise. But in our world? It’s a big deal. This affects the cost of everything from your ring setting to your packaging and shipping. And yes—that also means heavier pieces like gold chains, statement rings, or custom solid gold pieces could cost more going forward.

So if you’ve been holding onto vintage or older gold jewelry… this might be the moment to consider selling. The resale value is strong right now.

The Rise of the Secondhand Market

Oh my gosh—this is a huge one. One of my clients recently went into Cartier to buy a Love Bangle and told me the price had jumped again. And I get it. When retail prices are climbing, people start looking to secondhand options—and trust me, the pre-owned fine jewelry market is about to have a moment.

Whether you’re reselling your older pieces, collecting vintage treasures, or just looking for a deal on a luxury piece you’ve been eyeing, the secondhand space is going to be more relevant than ever.

That’s all the jewelry news I’ve got for you in today’s blog. What are your predictions? Do you think lab diamond prices will spike? Is gold going to keep climbing? Let’s talk. Follow me on Instagram @bybonniejewelry to see the latest in diamonds, design, and all things gold. See you in the next blog!