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Diamonds lose their sparkle as prices come crashing down

HAYSIEHAYSIE Member Posts: 36,987
edited January 25 in The Rail



Diamonds are woven through the tapestry of human history. The ancient Greeks were enthralled by their remarkable hardness. The Koh-i-Noor alone has been at the centre of invasions, murder, superstition and larceny. Millions of marriages have been launched using diamonds as the symbol of their everlasting lustre.

So the idea that diamonds might somehow lose their value seems unnatural. And yet prices are falling fast and show no signs of stopping. Natural diamonds cost 26% less in shops than two years ago, a drop during a time of high inflation that would be extraordinary were it not dwarfed by the poor fortune of their identical twins, lab-grown diamonds, which are now 74% cheaper than in 2020.





https://uk.yahoo.com/finance/news/diamonds-lose-sparkle-prices-come-150025032.html
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Comments

  • DoublemeDoubleme Member Posts: 2,237
    my ancestors i think like 5 6 generations back owned a diamond mine, which doesnt exactly make me feel good because i know what that may have involved. Of course I never inherited anything from that because they lost the diamond mine and my parents grew up poor.
    I guess if I had stake in the diamond mine I would see this as bad news, however really I think the whole Diamond mining thing often involves exploitation so diamond prices coming right down and more interest in lab diamonds I think can only be a positive thing. Maybe you could add this to Tikays good news thread. I cant my girlfriend has forbidden me from posting in that thread.
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