1- Zakat is not obligatory on diamonds; however, if diamonds are intended for trade, then zakat will be obligatory on those diamonds.
2- If gold or silver prevail in diamond jewellery, then they will be subject to the order of gold, and according to the conditions, zakat will be obligatory on that jewellery, and if gold or silver do not prevail, they will be in order of goods.
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دلائل:
مراقي الفلاح: (ص: 272، ط: المکتبة العصریة)
ولا زكاة في الجواهر واللآلئ إلا أن يتملكها بنية التجارة ".
ALLAH Almighty knows best
DARULIFTA AL-IKHLAS,Karachi