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[Spyxos]

• The demand for diamonds has declined as its allure fades in a key consumer market: China.
• “Diamonds don’t really fit in anymore despite the strong legacy of De Beers under Anglo,” said independent diamond industry analyst Paul Zimnisky.
• Diamond prices have fallen 5.7% so far this year, according to Zimnisky’s rough diamond index, declining more than 30% from their all-time high in 2022.

Falling marriage rates as well as growing popularity for gold and lab-grown gems all drove down Chinese demand for diamonds, said market research firm Daxue Consulting. The end of pandemic restrictions also saw consumers channeling their spending toward travel experiences instead of diamond products.

“The core issue is the rapid growth of lab-grown diamonds,” he said. Daga added that in the U.S., which is the largest consumer of diamonds, half of engagement ring stones will be lab grown this year, up from just 2% in 2018. Lab-grown diamonds, which can be up to 85% cheaper than natural diamonds, are made in a controlled environment using extreme pressure and heat.

“The diamond industry is in trouble,” Daga told CNBC, adding that he believes natural diamond prices could fall another 15%-20% over the next 12 months.

https://www.cnbc.com/2024/06/05/diamond-industry-in-trouble-as-lab-grown-gemstones-tank-prices-further.html

 

[Bitmap Frogs]

fuck De Beers

 

[SJRB]

Call me old-fashioned but the knowledge that a lot of people suffered for a tiny shiny stone just gives original diamonds a flavor that you can never reproduce in a lab.

 

[T-0800]

Call me old-fashioned but the knowledge that a lot of people suffered for a tiny shiny stone just gives original diamonds a flavor that you can never reproduce in a lab.

 

[Kadve]

Good. Gold next?

 

[RJMacready73]

fuck De Beers

uninteresting tibbet, the parquet flooring in our back room is from the old London De Beers office, unfortunately there was no diamonds embedded in it

 

[Kilau]

 

[Punished Miku]

Fantastic. I got my girl a lab ring. We're going to take down Valentine's Day next. Fuck that made up shit.

 

[The Cockatrice]

Call me old-fashioned but the knowledge that a lot of people suffered for a tiny shiny stone just gives original diamonds a flavor that you can never reproduce in a lab.

What a horribly accurate thing to say.

 

[SF Kosmo]

Good, it's all phony demand anyway. Why would anyone care if s gem is lab grown or not? It looks the fucking same.

 

[Punished Miku]

Also we need lab grown meat next. There is not a single industry more deserving of getting destroyed.

You can tell they're shitting their pants already, can't even compete. Just straight up rigging it.

Florida bans lab-grown meat, adding to similar efforts in three other states

Companies that have made strides in cultivated meat technology said Florida’s law stifles innovation in a space that is becoming competitive globally

www.nbcnews.com

 

[Ownage]

Also we need lab grown meat next. There is not a single industry more deserving of getting destroyed.

You can tell they're shitting their pants already, can't even compete. Just straight up rigging it.

Florida bans lab-grown meat, adding to similar efforts in three other states

Companies that have made strides in cultivated meat technology said Florida’s law stifles innovation in a space that is becoming competitive globally

www.nbcnews.com

I've eaten lab-grown meat a few times. It tastes as weird as anything I've ever eaten. No f'in way will I ever try it again. Absolutely no.

 

[Punished Miku]

I've eaten lab-grown meat a few times. It takes as weird as anything I've ever eaten. No f'in way will I ever try it again. Absolutely no.

Let the market decide. This is an industry just buying the laws.

 

[Cyberpunkd]

Good, it's all phony demand anyway. Why would anyone care if s gem is lab grown or not? It looks the fucking same.

One is art made by Leonardo da Vinci, another by the AI.

 

[AJUMP23]

I want a diamond from the ground, but I do not want artificial price inflation by release controls and marketing practices. Down with DeBeers.

I will go to Arkansas and find my own diamond.

 

[RJMacready73]

Also we need lab grown meat next. There is not a single industry more deserving of getting destroyed.

You can tell they're shitting their pants already, can't even compete. Just straight up rigging it.

Florida bans lab-grown meat, adding to similar efforts in three other states

Companies that have made strides in cultivated meat technology said Florida’s law stifles innovation in a space that is becoming competitive globally

www.nbcnews.com

“Florida is fighting back against the global elite’s plan to force the world to eat meat grown in a petri dish or bugs to achieve their authoritarian goals,” DeSantis said. “We will save our beef.”

What the fuck does that even mean?? How are the global elite even involved lol don't get me wrong, if given the option to pay premium to have a proper steak from a grass fed hippy farm over some lab grown shit that tastes (eventually) the same I'll take the proper steak but let's not kid ourselves, lab grown meat for mass consumption is the future

 

[Punished Miku]

“Florida is fighting back against the global elite’s plan to force the world to eat meat grown in a petri dish or bugs to achieve their authoritarian goals,” DeSantis said. “We will save our beef.”

What the fuck does that even mean?? How are the global elite even involved lol don't get me wrong, if given the option to pay premium to have a proper steak from a grass fed hippy farm over some lab grown shit that tastes (eventually) the same I'll take the proper steak but let's not kid ourselves, lab grown meat for mass consumption is the future

Not to get too into politics, but I suspect money might be involved. Remember what they tried to do to Oprah?

 

[West Texas CEO]

 

[Dural]

Also we need lab grown meat next. There is not a single industry more deserving of getting destroyed.

You can tell they're shitting their pants already, can't even compete. Just straight up rigging it.

Florida bans lab-grown meat, adding to similar efforts in three other states

Companies that have made strides in cultivated meat technology said Florida’s law stifles innovation in a space that is becoming competitive globally

www.nbcnews.com

I'll become a vegetarian before eating lab grown meat.

Good. Gold next?

Gold has always held value, diamonds value is because of market manipulation by DeBeers.

Fuck diamonds and their overinflated value. Years ago a friend went to sell some rings to a jeweler and they wouldn't give her anything for the diamonds, just the gold. They're really not worth shit and never have been, DeBeers marketing market manipulation is what's made people think they're worth anything. My wife lost her original wedding ring set, and multiple other I've bought, it's all lab grown from now on.

 

[DKehoe]

I feel bad for the mom-and-pop diamond mines that will be put out of business by this.

 

[mitch1971]

Never seen the allure of diamonds or any coloured rock, really.

 

[Valonquar]

This Valentine's Day, give the gift of a small neurotic dog in a mesh bag by Louis Vuitton

 

[mitch1971]

The day Superman crushed that piece of coal in Superman 3, I knew the diamond market was going down hill from then.

 

[DeepEnigma]

Fuckem.

Shit industry anyhow.

 

[EviLore]

Good. Gold next?

Literally requires a supernova or the collision of neutron stars to create gold. Diamonds are just marketing.

 

[SF Kosmo]

One is art made by Leonardo da Vinci, another by the AI.

Nope, they're both rocks.

 

[Blade2.0]

So the diamond industry isn't in trouble, just Da Beers. I'll sleep well, then. Like a fucking baby.

 

[Blade2.0]

Fantastic. I got my girl a lab ring. We're going to take down Valentine's Day next. Fuck that made up shit.

While I don't disagree with you. Every holiday and tradition is made up.

 

[Hudo]

Wasn't there a DiCaprio movie about Diamonds and Africa? Is the movie good?

 

[Spyxos]

Wasn't there a DiCaprio movie about Diamonds and Africa? Is the movie good?

Yep, and it is really good.

 

[GloveSlap]

I'll become a vegetarian before eating lab grown meat.



Gold has always held value, diamonds value is because of market manipulation by DeBeers.

Fuck diamonds and their overinflated value. Years ago a friend went to sell some rings to a jeweler and they wouldn't give her anything for the diamonds, just the gold. They're really not worth shit and never have been, DeBeers marketing market manipulation is what's made people think they're worth anything. My wife lost her original wedding ring set, and multiple other I've bought, it's all lab grown from now on.

Yep. I always joked that i would rather buy my fiance a gold brick than an expensive diamond. Complete scam.

 

[Thaedolus]

Literally the exact gif I came in to post

 

[Thaedolus]

Literally requires a supernova or the collision of neutron stars to create gold. Diamonds are just marketing.

Well that and a lack of fiber

 

[jason10mm]

Wasn't there a DiCaprio movie about Diamonds and Africa? Is the movie good?

OMG YES!!!

 

[Alebrije]

I blame Superman..for starting this trending

 

[CoreyFlawless]

“Florida is fighting back against the global elite’s plan to force the world to eat meat grown in a petri dish or bugs to achieve their authoritarian goals,” DeSantis said. “We will save our beef.”

What the fuck does that even mean?? How are the global elite even involved lol don't get me wrong, if given the option to pay premium to have a proper steak from a grass fed hippy farm over some lab grown shit that tastes (eventually) the same I'll take the proper steak but let's not kid ourselves, lab grown meat for mass consumption is the future

I fucking hope not

 

[Puscifer]

Also we need lab grown meat next. There is not a single industry more deserving of getting destroyed.

You can tell they're shitting their pants already, can't even compete. Just straight up rigging it.

Florida bans lab-grown meat, adding to similar efforts in three other states

Companies that have made strides in cultivated meat technology said Florida’s law stifles innovation in a space that is becoming competitive globally

www.nbcnews.com

Man y'all are fucking nuts.

Store bought meat has changed enough in texture that I've resorted to buying quarter pigs and half beefs from farmers who raised it. I'll be damned if I switch to this full time, already thinking of going plant based already but this shit right here is a HELL NO.

 

[Trilobit]

Aren't natural diamonds plentiful and the diamond companies need to create a manufactured shortage to make them seem valuable? Think I read an article a while back about it.

 

[Mistake]

Aren't natural diamonds plentiful and the diamond companies need to create a manufactured shortage to make them seem valuable? Think I read an article a while back about it.

Yes, diamonds are basically controlled by three companies worldwide and they haul them out of mines by the sack full

 

[Go_Ly_Dow]

Good. Gold next?

Far as I understand, physical gold is resurging as Eastern economies are relying on the tried and trusted metal to back their currencies amongst all the financial turmoil. China in particular has massively increased their gold reserves, Russia as well.

It's likely gold will boom over the next few decades, hence why it's currently at all time highs at around $2,300 per oz vs like $1,600 per oz just a few years ago.

If the dollar weakens then currencies backed by it will begin flocking to gold as well.

 

[Korranator]

Not to get too into politics, but I suspect money might be involved. Remember what they tried to do to Oprah?

You're talking about GMOs, which have been banned all over the world. If anything it's politics that's keeping them from being banned in the US. Reasons for being banned is they are carsogenic, cause auto-immune issues, and ironically more toxic to the environment.

 

[EverydayBeast]

 

[jason10mm]

Come on, everyone knows

Though I do admit to have a bit of a

and a

When it comes to jewelry

 

[RJMacready73]

You're talking about GMOs, which have been banned all over the world. If anything it's politics that's keeping them from being banned in the US. Reasons for being banned is they are carsogenic, cause auto-immune issues, and ironically more toxic to the environment.

Americans never let a simple thing that kills you or fucks you up stand in the way of greed

 

[Doczu]

Good. Gold next?

This will happen once humanity will start stripping asteroids. Untill then it's a finite resource that holds value

 

[jason10mm]

Literally requires a supernova or the collision of neutron stars to create gold. Diamonds are just marketing.

I come from a long line of alchemists, we are on the cusp of being able to transmute lead into gold.

Just need a little bit more money, care to invest??

 

[Blade2.0]

Well that and a lack of fiber

I need more fiber

 

[Blade2.0]

Aren't natural diamonds plentiful and the diamond companies need to create a manufactured shortage to make them seem valuable? Think I read an article a while back about it.

That's pretty much every industry we've got. We waste half of what we make.

 

[a multicultural team of v]

Have You Ever Tried to Sell a Diamond?

An unruly market may undo the work of a giant cartel and of an inspired, decades-long ad campaign

www.theatlantic.com

Probably as relevant today as it was 40 years ago.