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Diamond Prices Are in Free Fall in One Key Corner of the Market

Diamond exports from India, where 90 percent of the global supply is cut and polished, saw lab-grown exports increase to 9 percent from a previous 1 percent.
Signet Jewelers Ltd., the owner of Kay Jewelers and Zales, sent shockwaves through the global diamond trade on Wednesday, telling suppliers it would no longer buy stones mined in Russia, the world’s biggest source of gems.
Diamond prices are in free fall in one key corner of the market. (Shutterstock)

One of the world’s most popular types of rough diamonds has plunged into a pricing free fall, as an increasing number of Americans choose engagement rings made from lab-grown stones instead.

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