The price of diamonds has fallen drastically in recent years. This is due to a number of factors, including, Dimond price down Why has the price of diamonds gone down Increased competition from lab-grown diamonds . Lab-grown diamonds are chemically and physically identical to natural diamonds, but they are much cheaper to produce. As a result, more and more consumers are choosing lab-grown diamonds over natural diamonds. Declining demand for diamonds. In recent years, there has been a decline in demand for diamonds, particularly among younger consumers. This is due to a number of factors, including the rising cost of living, changing consumer preferences, and ethical concerns about the diamond industry. Economic headwinds.The global economy is currently facing a number of challenges, including inflation, supply chain disruptions, and the war in Ukraine. These challenges are having a negative impact on consumer spending, including spending on luxury goods such as diamonds. T...