In this 73rd episode of the Paul Zimnisky Diamond Analytics Podcast, Tom Moses, Executive Vice President of The Gemological Institute of America (GIA), joins the show to discuss an array of timely industry topics. The episode begins with Tom giving his perspective on the current downturn in the diamond market and how it stacks up against others that he has seen over his almost 50-year career. Paul then explains why he thinks the 50% Indian tariff on natural diamonds could actually be digestible by consumers while the tariff on lab-grown diamonds is maybe not even consequential. Next, Tom gives an estimation of what current diamond inventory in the U.S. looks like based on what the GIA has seen passing through in recent weeks. The conversation then moves to LGDs and Tom explains why he thinks that we could see LGD rough selling for as little as $5 per carat in the coming years and how fine jewelers selling LGD could be a "path to distinction" for the larger category. Tom then shares his story of spearheading the GIA decision to provide LGD reports and how this ultimately culminated in a decision to change course in June 2025 –news which generated significant industry stir. Finally, Paul shares why he thinks the diamond industry might be through the worst of the disruption caused by LGD.

Hosted by: Paul Zimnisky

Guest: Tom Moses

Guest plug: www.gia.edu

More information on PZDA's State of the Diamond Market report: www.paulzimnisky.com/products

Show contact: [email protected] or visit www.paulzimnisky.com.

Please note that the contents of this podcast includes anecdotes, observations and opinions. The information should not be considered investment or financial advice. Consult your investment professional before making any investment decisions. Please read full disclosure at: www.paulzimnisky.com.