"Diamonds and Pearls" is the title track of American musician Prince and The New Power Generation's 1991 album and was released as a single in November 1991.

"[9] Pan-European magazine Music & Media commented, "The melody of this mellow ballad and title track of his new album rings a bell for soul fanatics.

It recalls Bobby Goldsboro's famous tune "Summer (The First Time)", as recorded by Millie Jackson on her classic Caught Up album.

[13] In a 2016 retrospective review, Patrick Corcoran from Albumism stated that the song's "fairy tale fanfares, sizeable doses of pomp and the delicious interplay between Gaines' and Prince's voices serve up an undeniably touching ballad that delicately and deftly walks the line between sweet and saccharine.

[16] In 2016, Jeff Weiss from Pitchfork said it's a "twinkling locket-pop ballad", and "one of those songs they'll play at weddings until we stop using diamond engagement rings and the ocean runs out of pearls."

[17] In Rolling Stone's ranking of "25 Essential Prince Songs" in 2020, an editor described it as a "sultry ballad", that "intricately wedded the singer's love of glitz and glamour with a distinct, ever-evolving pop-R&B sensibility.