Crossword Genius

Cloth of precious diamonds (5)

Ross

I believe the answer is:

tweed

'cloth' is the definition.
(tweed is a kind of cloth)

'precious diamonds' is the wordplay.
'precious' becomes 'twee' (I've seen this before**).
'diamonds' becomes 'd' (abbreviation in bridge say).
'twee'+'d'='TWEED'

'of' acts as a link.

(Other definitions for tweed that I've seen before include "Harris cloth" , "Scottish and English river" , "passes between English and Scottish banks" , "Boundary river" , "Flow" .)

I've seen this clue in The Independent.
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