Posted 10/2/2023, 6:58:03 AM
Diamond Prices Drop as Post-Pandemic Consumers Spend Less on Luxury Goods
- Diamond prices have fallen as consumer spending shifts from luxury goods to experiences like travel after pandemic
- Rough diamond prices dropped to lowest in past year according to Zimnisky Global Rough Diamond Index
- Analysts say consumers had extra funds during pandemic and spent less on dining out and travel
- Demand and diamond sales hit record highs in 2021-2022, but now prices correcting
- Retail diamond sales expect small spike for holidays, but experts watching economic indicators