Why do I love diamonds so much? – Diamonds charting
The world’s most valuable commodity is now valued at a record-breaking $20.8 trillion.
The charting service Diamond Charting recently released its “Diamond Clear” charting report, which breaks down how the dollar value of diamonds compares to the price of a similar gemstone.
This is an important piece of data for investors, because diamond prices have soared in recent years, according to the Wall Street Journal.
The value of the global diamond market hit a record high in 2017, with $18.3 billion in sales, according the Quartz Diamond Blog.
It was worth $2.9 trillion at the end of 2015, according data from the Oxford Commodities Index.
The prices of diamonds have skyrocketed over the past decade, especially in Asia.
According to Quartz, the value of global diamonds was $13.6 trillion at last count, and the value in 2017 was $22.1 billion.
The rise of the diamond industry, the rise of cheap diamonds, and demand for cheap diamonds all play a role in the soaring prices.
A Diamond Clear report shows that, since 2016, diamonds have been gaining market share and becoming a more popular investment.
In 2017, the market was worth an average of $1.2 billion, up from an average $700 million in 2016.
The market is now worth about $3.5 billion, according Diamond Charters.
“Diamonds are a great indicator of economic health, and a strong correlation exists between the price and the market value of a company’s diamond mines,” Diamond Charter John Wysocki said.
“Demand for diamond is growing at a steady rate, and these prices have helped drive this market in the past three years.”
This charting data is provided by Diamond Chart, Inc. in association with the National Association of Realtors.
Quartz is a division of the Quartz Media Group.