"Raining Diamonds" is a song by Australian recording artist Ricki-Lee Coulter. It was written by Coulter, Billy Mann and Boyblue, who also produced the song. "Raining Diamonds" was released digitally on 18 October 2011, as the lead single from Coulter's third studio album Fear & Freedom (2012). The song serves as Coulter's debut release with EMI, after parting ways with her former record label Shock Records in May 2011. Lyrically, Coulter stated that the song is "all about knowing your value and not settling for less than what you believe you are worth."

"Raining Diamonds" peaked at number 19 on the ARIA Singles Chart and was certified platinum by the Australian Recording Industry Association for selling over 70,000 copies. An accompanying music video was directed by Krozm and features Coulter channelling a warrior princess. She promoted the song with performances on The X Factor Australia and Sunrise.

Coulter's third studio album, originally titled Hear No, See No, Speak No, was scheduled for release in November 2009, but was later pushed back to January 2010. However, following the two unsuccessful singles "Don't Miss You" and the title track, Coulter told her record label Shock Records to cancel the album's release. In an interview with News.com.au, she said, "They got a lukewarm reaction to the singles they chose to put out, so it made sense not to release the album. I said I'd prefer the album not to go out than to go out and fail." In 2010, Coulter took a break from her music career as she took on a full-time position as a breakfast radio presenter for Sydney's Nova 96.9, alongside Merrick Watts and Scott Dooley. In May 2011, Coulter ended her contract with Shock Records. In an interview with Auspop, she stated that "Raining Diamonds" was originally planned to be released through the label, but they "fell into financial trouble." As a result, Coulter asked to be released from her contract. She then signed with major label EMI. "Raining Diamonds" was released digitally and sent to Australian contemporary hit radio stations on 18 October 2011. A week later, it became the most added song to radio.

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