- A surge in demand for lab-grown stones has weakened a key corner of the diamond market, Bloomberg reported.
- Diamond demand has softened since the pandemic, but the rough-diamond market has seen sharp price drops.
- Prices for synthetic stones have seen bigger discounts as well.
The rising popularity of choosing lab-grown stones for engagement rings is cutting into the market for one of the world’s most popular type of rough diamonds, according to a Bloomberg report.
While demand for diamonds and luxury goods at large has softened since the pandemic, the diamonds used in lower-priced bridal rings have seen a sharp drop in prices.
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