The American Gem Society Laboratories has taken its cut grading system further by introducing the first ever diamond grading report with cut grades for oval cut diamonds. In 2005, AGS Laboratories released its Performance-Based Cut Grading System, the first-ever such cut grading system for a fancy shaped diamond. %% Frank Dallahan, President and CEO of the American Gem Society Laboratories, said “The oval cut is very popular with consumers and the addition of a cut grade to the AGS Laboratories grading reports for oval diamonds will add more objective and useful information for consumers to make decisions.” %% The American Gem Society Laboratories offers the only scientifically peer reviewed, objective and repeatable cut grade method in the industry. The Lab began with grading the round brilliant and the princess cut, followed by the emerald and now the oval. It continues its research into cut grade for fancy shapes, and expects more shapes on-line.