A new report says that diamonds are the most valuable jewelry in our world.
That’s according to a study released today by the London-based consultancy firm PricewaterhouseCoopers, which has been working with the industry to come up with the figure.
The firm’s report, which was compiled by Pricewaterhouses calculations of the world’s jewelry, shows that the world jewelry market is worth $6 trillion (US$6.3 trillion), and that diamond jewelry accounts for more than 20 percent of that total.
It’s the second report that Pricewaterheads has released this year, and it confirms that diamonds continue to be the most highly sought-after gemstones.
The report also reveals that in 2017, the industry accounted for more sales than all the other major global gemstones combined.
“Diamonds are the best-selling gemstone on the planet, and yet, despite their popularity and value, they are still one of the least sought-for gems in the market,” said Neil Gulliver, Senior Director of Global Diamonds at Pricewater.
“This report shows that despite a global surge in demand for diamonds, the price is still the most important driver of demand.”
Gullivers report, based on information from the latest global data, also states that the diamond market is projected to reach $6.9 trillion in 2020.
However, while the world is expected to see a $1 trillion spike in the global diamond market in 2020, the report also says that the growth of the global market is expected “to remain flat, or even decline slightly.”
According to Gullivans report, diamonds are also the most sought-out gemstone for high-end buyers.
“We believe that the demand for diamond rings is driven by both a perceived and real quality of diamonds,” Gulliven said.
“In many cases, the perceived quality is a reflection of how well a gemstone can be used as an ornament, a signature or as a way of presenting a product.”
The report found that diamond engagement rings, while becoming more popular with consumers in recent years, have been overshadowed by the high-quality diamonds found in the traditional diamond ring.
The study also found that the price of diamond engagement ring is still significantly higher than for the average traditional diamond.
The Pricewater report estimates that the average price of a diamond engagement band today is $4,500, while a diamond ring can cost as much as $10,000.
According to the report, the diamond price is also increasing because of a change in the way diamonds are mined, which makes it more expensive to mine diamonds in countries where the industry is regulated.
“The industry is seeing a significant increase in the number of mines, especially in countries with restrictive mining laws,” Gullyiver said.
The price of the diamond is also up because of the increase in demand from new types of diamond products, including pendants, bracelets and earrings, he said.
Gulliving explained that diamonds, like all gems, are naturally mined.
“While the diamond has traditionally been mined in a special type of mine, the demand has increased due to advances in technologies such as mining technology, new technology and the development of new mining techniques,” GULLIVANS report says.
“Despite the increase, the market for diamonds remains relatively stable, with demand for the gem increasing slightly each year, due to the increased demand for these types of products.”
The diamond industry has a history of high-profile price spikes, which are often followed by lower sales.
The most recent spike in 2015 came after the United Kingdom announced it would leave the European Union.
According, Gullives report, while some companies have attempted to control the surge in the demand of their gemstones, the result has been a decrease in sales and higher prices.
“There are several companies who are attempting to use the high demand for their gems as a means of marketing and marketing their products in order to maintain market share and to attract additional buyers,” GILLIIVANS says.
While some companies may be able to control their own prices, the study says that these companies are “failing to take into account the higher costs of materials, labour, transportation, environmental impact, and other factors associated with high demand.”
In other words, the average customer is still paying more for their diamond ring than they were paying for the traditional ring, even though they could have easily bought the same ring at a cheaper price.
The new report shows, however, that the increasing demand is “unlikely to be sustainable.”
The industry has been “on a constant growth trajectory,” and while “it is unlikely that this trend will reverse, there are some indications that prices could drop,” the report says, referring to a sharp decline in the price per carat in 2019 and the price decline in 2020 compared to previous years.
GULLIVERS report also points out that “the high price of diamonds is often a result of