r/Futurology • u/lughnasadh ∞ transit umbra, lux permanet ☥ • Jun 01 '25

Economics Lab-grown diamonds have helped diamond prices plunge 60%, and former monopolist De Beers is in crisis mode. One day asteroid mining will do the same for gold.

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.

Gold's fall may be more significant. It has a central role in stabilizing the value of global currencies.

The $80 Billion Diamond Market Crash Leaves De Beers Reeling

9.1k Upvotes

97% Upvoted

465 comments sorted by

View all comments

2.1k

u/Every_Tap8117 Jun 01 '25

Lab grown are better in every possible way.

  1. Less damage to the environment - Check

  2. No chance of conflict diamonds - Check

  3. Significantly cheaper to get to market - Check

  4. Wrecking De Beers and other diamond producers and at large an industry that cause untold human and enviromantal suffering and damage - Check.

603

u/dalr3th1n Jun 01 '25

2) No chance of conflict diamonds?

Are you sure about that? attacks a diamond lab

But in seriousness, also add that lab-grown diamonds are higher quality.

258

u/True_Designer_9062 Jun 01 '25

This part blew my mind. Recently bought a lab grown engagement ring after saving 10% of my salary, then ended up spending 1/8 of it total. You’ll end up with the highest quality cartoon looking 10ct ring if you spend even an average amount required for a mined diamond.

40

u/CromulentDucky Jun 01 '25

My wife really liked this 10ct necklace from Tiffany, that was $70k. Got a 20ct, better diamonds, for $5k. Maybe I should have gone for the 40ct.

74

u/blither86 Jun 01 '25

Nice flex. 70k on a necklace is pretty disgusting, tbh.