Polished diamond prices have reached multi-year lows

It has been reported that polished diamond prices in the world have reached multi-year lows. This is reported by Rapaport.

The price index for 1-carat stones as of Nov. 1 fell 22 percent to the same date in 2023.

The reasons are named:

First, it is a crisis in the diamond industry in India, where there is an excess of diamond reserves.

This country accounts for up to 90% of all diamond cutting in the world.

Also, the demand for diamonds in key regions such as the U.S. and China has become very weak.

Another reason is the development of man-made diamonds.