According to the Zimnisky Global Rough Diamond Index, prices are the lowest they’ve been in a year. Industry analysts attribute the slump to declining sales at the jewelry counter.
“Diamonds are a completely consumer-driven market,” said Edahn Golan, an independent diamond analyst. Shopper demand for diamond jewelry influences rough diamond prices and, to an extent, retail prices. Retailers stoke consumer demand by pouring hundreds of millions of dollars into advertising. Even though rough diamond prices are falling, buying a one-carat round diamond at the store is on average 3% more expensive now than it was in January 2020, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: