Diamond Prices Crash 70% to Its Lowest Level This Century

Diamond prices have fallen roughly 70% from their 2011 peak to the lowest level this century, pressured by a surge in lab-grown stones, Federal Reserve rate hikes, and a supply glut. The decline reflects a structural shift in the diamond market, where cheaper synthetic alternatives are eroding the pricing power of natural stones. The slump matters for producers and retailers holding inventory, as well as for investors who have treated diamonds as a store of value. Watch next for production cuts and marketing efforts by major miners, plus how quickly lab-grown prices stabilize relative to natural stones.