Diamond Prices Continue To Soar According To Experts
Diamonds are one of the hardest substances on earth popularly known for its brilliance and shine, unparalleled by any other stones in the world. World over the demand for diamonds is rising with its higher and higher usage for making various Types of Jewelry like rings, necklaces, pendant sets, bangles & bracelets, etc.
The Current Price of the Diamond is USD 2.51637and this rate is set to rise at USD 4.775704 in 2019 and at USD 11.234907 in 2024 on account of various supportive geographic and demographic factors.
Many positive and sunny aspects around the world like the rise in overall employment rates, existence of majority of population of millennial under the age bracket of 25-35, global rise in GDP levels, rise in number of middle class households, better finance and funding propensities in the diamond sector, favorable tax regimes in major diamond consuming countries like China, India and the U.S as all adding to the maintenance of the growth trajectory of diamond prices.
Stream of consolidations and re-starting and other mine activities are also leading to the Soaring of Diamond Prices, for instance Lucara Diamond starting again with its mining activities of South Lobe Ore, the closing of the mir mine with the accompanying new supplies of diamonds from Gahcho Kue and Renard & Liqhobong, construction of ALROSA’s Verkhne-Munskoye mine to bring, etc. discovery of New diamond-bearing kimberlites in south-eastern Zimbabwe, the acceleration efforts by the government of Zimbabwe, via ZCDC, of raising up production at its Marange alluvial fields to 10M carats annually by 2022 is a sure sign of are all set to propel the rising demand of making use of Diamonds for Various Jewelry, its prices rocket high.
The heightened demand for Small Diamonds for Jewelry Making, complimentary application of lab-grown diamonds in jewelry making in sync with the normal diamonds to its creation of an overall large parallel market, not to add into the competition is all the more a contributory factor for sunny diamond prices.
Further, the invention of better diamond unearthing technologies is propelling the cost of diamonds for making of a Fine Diamond from a rough diamond like the application of large-stone recovery technology and blockchain technology persuasive factor to raise the number of supplies of diamonds.
Also, other factors like the saturation of Purchase of Colored Diamonds, the application of generic diamond marketing and the trading of a global secondary market for diamonds at 5% more premium than the primary market is all showing a very rosy picture for diamond retail as well as wholesale prices.