A lot of this stuff is clickbait, gloom and doom always sells, no matter the subject.
World event in 2020. Diamond market no different. Also the crash of 2008, diamond market no different. Always rebounds always will.
But articles made to look like news stories leave out the real facts or no one would be interested in the stories of the OP.
Such as this =
" Spike in Diamond Prices Isn't Putting Off Engagements
- Signet has seen robust demand for engagement rings in 2022
- CEO says diamond prices have risen around 15%-20% this year"
(doesnt exactly sound like the theme of this entire thread does it?)
Robust demand for engagement rings suggests 2023 is going to be another big year for weddings, according to one of the largest US jewelers.
www.bloomberg.com
If we want to talk about world wide diamond growth one just has to look at Asia, while the economies of Asia catch up to and in many circles surpass the USA going all out on an engagement even in places like the wealthy in China far exceeds us in the USA.
There is a reason diamond prices are going through the roof and if its not un in the USA its just in others countries we never thought possible. There is TONS of wealth in Asia and constantly growing.
Just as Tesla is in China, so are the diamond merchants.
"
China
Go big or go home! In China, engagements are next-level moments. China makes American proposals and Prom-posals look sedate!
A piece in The Atlantic detailed the amazing stories and great lengths some future grooms took to arrange the perfect engagement. Think a fleet of luxury cars arranged in a heart shape. Or a love note spelled out in hot dogs!
And the ring? The ring better be up to the bride’s standards! Last year one bride-to-be
rejected her suitorbecause the diamond was too small (She eventually gave in, once he agreed to increase the ring size to one carat).
Part of this is due to China’s now-defunct one-child policy. In Chinese culture, baby boys were preferred. That means there are now 30 million more men than women in China… and that means a lot of eligible bachelors may never find a bride. To get the girl, the men are going all-out.