Diamonds are getting a little more expensive, and it’s starting to look like you might be getting a different kind of love.
The trend started in the United States and is going to continue to expand as a result of a major change in the way you spend your money.
A new report says the average price of a diamond has skyrocketed over the past year.
It has more than tripled in price since the start of the year.
“The reason why it’s getting so expensive is because people are buying them on the secondary market, which is not necessarily the same as what they’re buying at the store,” said Steven C. Mihalik, chief economist at Morgan Stanley.
“The primary market is a very volatile one.
It’s very volatile and people are going to try to maximize their profits at whatever price they can get them for.””
If you’re buying a diamond for a diamond-mining company, that diamond is going for somewhere in the $1,000s to $2,000 range,” Mihilik continued.
“If you want a high-quality diamond, you’re going to want to go to a diamond shop.”
While diamond prices in the U.S. have remained fairly steady, the price of gold has jumped nearly 70% since 2015.
That has led to some economists to say gold is now the most valuable investment in the world.
“There are many reasons why the gold market is up,” Muhilik said.
“It’s because it’s a new commodity, it’s cheap, and you’re not seeing much inflation in the economy.”
The Diamond Council says gold prices are likely to remain above $1 for a long time.
While many consumers may be surprised to see prices for diamonds jump, the increase is the result of more supply coming online, and more people are willing to pay a premium for a precious metal.
Mihililik predicts a lot of this will continue.
“If the gold prices continue to go up, the demand for gold will continue to grow.
Gold is the new oil,” he said.”
When you have more supply, it means there’s more demand for more gold, and that will push prices up, which will lead to a higher price,” he added.