While gemstone prices are relatively but not entirely immune to the pressures of inflation and rising supply chain costs continue to play a role, the dynamics of limited supply and substantial and growing demand continue driving notable price increases across various coloured gemstones.

In the latest GemGuide edition (September/October issue), which tracks the wholesale prices for cut and polished gems since the 1980s, significant price increases were observed in several gemstones, notably spessartine garnet, certain tourmalines, topazes, and zircons. Remarkably, when comparing prices over the past two years, some of these stones have nearly doubled in value, according to GemGuide. Prices for cut and polished alexandrites and Brazilian emeralds remain robust in the latest issue, with the latter even recording price increases in line with the annual average since the beginning of the year. The most significant price gains have been seen in high-quality emeralds over 1 carat, with an average price increase of 4.3% between the March/April and September/October editions of GemGuide.