marketplace.org·3 min read·medium
What's behind the diamond downturn?
K
Kimberly Adams, Alex Schroeder
✦AI Summary
Diamond prices have dropped significantly from their pandemic-era peaks, leading industry giant De Beers to suspend production at its largest South African mine. Analysts attribute the downturn to a combination of inflation, shifting consumer demand, and the rise of lab-grown diamonds.
By some measures, diamond prices have been cut in half since a peak during the pandemic.
businesseconomy
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