Diamond Market Shakeup: Why Prices Are Dropping in India
Diamonds are losing value amid a 22-month market slump. Prices for lab-grown diamonds have plummeted from $300 to $78, making them 90% cheaper. India’s diamond exports dropped 13.44% in June, impacting 38,000 workers and businesses. The global demand, particularly from China, has weakened, and lab-grown diamond sales may fall significantly.
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