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Illustration: Aïda Amer/Axios

Diamond prices are up because demand is growing — despite the country's recent emergence from various forms of lockdown.

Why it matters: Diamonds were a big pandemic-era winner, when U.S. spending flowed out of service, travel and experiences into goods and high-end products.

  • The trend hasn't reversed, with increases in online sales, younger men who are less anxious about going into stores, and purchases of larger stones. 

By the numbers: De Beers, one of the biggest diamond miners in the world, has already reached 73% of its 2020 rough diamond sales so far this year.

  • E-commerce sales for Signet, the parent company of Kay Jewelers and Zales, grew 125% over 2019 in the latest quarter, thanks to its virtual consultants and try-on features, the company says.
  • And even though store foot traffic may still be down compared with two years ago, the company reported a higher average transaction value.

What hasn't changed: Celebs are still coveting the precious stones, and there's still tremendous value in rarity.

  • Check out rapper Post Malone’s new 12-carat, $1.6 million fangs and the new 470-carat diamond that was just discovered in Botswana.

The big picture: Jewelry and accessories have been one of the biggest drivers of retail growth, especially online, over the past year.

  • Jewelry sales saw the biggest jump of any retail category — up 45% last month versus 2019 — according to Mastercard.

What to watch: New strains of the coronavirus may impact supply chains for diamonds down the line.

Go deeper

A silver lining for retail sales

Expand chart
Data: Census; Chart: Danielle Alberti/Axios

Retail sales in May fell at a greater rate than what economists predicted. But a closer look reveals a somewhat encouraging economic snapshot.

Why it matters: Consumer spending accounts for about 68% of GDP. So, the trajectory of retail sales acts as a rough proxy for the direction of the economy.

Pelosi says it's her "plan" to appoint GOP Rep. Kinzinger to Jan. 6 committee

House Speaker Nancy Pelosi (D-Calif.) said Sunday that it is her "plan" to appoint Rep. Adam Kinzinger (R-Ill.) to the House select committee investigating the deadly Jan 6. Capitol riots.

Why it matters: Pelosi's statement to ABC's "This Week" comes after she rejected two of the five Republican appointments offered by House Minority Leader Kevin McCarthy (R-Calif.).

Updated 2 hours ago - Sports

Olympics dashboard

⛳️: Golfer Bryson DeChambeau will miss Olympics after testing positive for COVID

📺: The Olympic events to watch today

🏊: Athlete spotlight — When to watch swimming star Katie Ledecky

🥋: Iranian defector defeats Iranian in taekwondo

🤖: The robot Olympics

🚨: Heat wave brings scorching temperatures to Tokyo Olympics

🎤: Meet the new faces of NBC's Olympics coverage

Go deeper: Full Axios coverage