Diamond prices are down 60% since a 2011 high, and they are still falling. It’s not all down to lab-grown diamonds, demand is down too, especially in China.
No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It’s just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.
How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It’s possible gold has twenty years or less of being high value left.
The $80 Billion Diamond Market Crash Leaves De Beers Reeling
Are they able to lab grow the same kind of gem quality diamonds that you usually think about when it comes to jewelry, or is it still mostly industrial applications (such as diamond tipped drill bits)?
It is the blood and slavery that make natural diamonds so valuable /s
Lab grown diamonds are much better quality than natural diamonds. So now natural diamond companies are moving to the “imperfections is what make a diamond perfect” strategy. But nothing’s stopping labs from growing diamonds with imperfections if that’s what the people are after.
All in all, diamonds have always been mostly a scam and it’s showing more and more.
I’ve heard that lab grown are actually better across each measurement (clarity,shine, whatever), than natural diamonds, now.