Diamond prices have dropped 18% since their peak.

According to one Global Rough Diamond Price Index, diamond prices are down 18% from their all-time highs in February 2022, and are down 6.5% year to date.And market observers believe that their value will fall much further.

During the Covid-19 pandemic, diamonds and other jewellery values skyrocketed, culminating in a climax early last year.

When the economy began to improve, diamond prices began to moderate and went into a “severe decline.”

According to industry experts, continued competition from man-made diamonds, a delayed Chinese economic recovery, and an uncertain macroeconomic background are also factors driving a poor market.

There is space for more price drops, which is a highly realistic scenario, especially given that retailer margins for lab grown diamonds are particularly strong, hovering around 60% vs 34% for genuine diamonds.

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