Diamonds Lose Their Sparkle: Prices Plunge to Century-Low Levels

Diamond prices have fallen to their lowest levels this century, with one-carat polished diamonds dropping by 22% year-on-year and smaller stones losing 27% of their value. Factors driving this decline include an oversupply of rough diamonds, reduced demand from key markets like the US and China, and the rising popularity of lab-grown alternatives. Geopolitical tensions and economic uncertainties have further strained the industry. Major producers like De Beers and Alrosa face growing challenges adapting to these shifts.

 

Source: Report.az & Market Analysts