Diamond prices are down 60% since a 2011 high, and they are still falling. It's not all down to lab-grown diamonds, demand is down too, especially in China.

No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It's just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.

How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It's possible gold has twenty years or less of being high value left.

The $80 Billion Diamond Market Crash Leaves De Beers Reeling

you are viewing a single comment's thread
view the rest of the comments

[–] KobaCumTribute@hexbear.net 16 points 5 days ago

This reminds me of how someone I used to know once literally pointed at diamonds to "disprove" the labor of value and is like "Marx never considered diamonds" and I'm just like phoenix-objection-1 phoenix-objection-2 at that exact paragraph.