Diamond prices hit multi-year lows

Diamond prices on the global market have begun to decline rapidly, according to company Rapaport, Report informs.

A particularly noticeable drop was registered in the segment of one-carat diamonds.

By the beginning of November, their value decreased by 22% compared to the previous year and by 23% since the beginning of this year, reaching the lowest level since January 2015.

Small diamonds also lost significant value, falling by 27% over the year and by 28% since the beginning of 2024.

The excess of rough diamonds in the market is one of the reasons for the price decline, and the younger generation is increasingly less interested in purchasing natural diamonds, preferring alternative jewelry.