Diamond prices are declining internationally as more people choose services over jewels

New York: The media claimed that rough diamond prices have fallen in 2023 as many post-pandemic buyers are avoiding luxury products. Rough diamonds are raw, unpolished, and uncut stones.

The Zimnisky Global Rough Diamond Index indicates that prices are at their lowest point in a year. According to CNN, industry observers blame the downturn on falling jewellery counter sales.

Paul Zimnisky, a global diamond analyst, observed that since consumers spent less money on vacation and eating during the epidemic, “people had excess money to spend on discretionary purchases.”

Due to people preferring services over jewels, diamond prices have changed.