“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 process recreates how natural diamonds are forged deep in the Earth’s mantle. Lab-grown diamond sales surged from just 2% of the global diamond jewelry market in 2017 to 18.4% in 2023, according to data provided by Zimnisky.

Additionally, the case for buying diamonds as an investment has dwindled, Daga said. Diamonds were seen as an asset and inflation hedge over the last 50 years, he elaborated. But that investment rationale has largely faded as prices plunge.”

From NBC News.