Diamonds are getting cheaper. Time to buy?

However, retail prices could drop if stores have to start discounting because of an unrelated trend: increasing demand for colored stones over diamonds.

“As [retailers] try and become more competitive you might see some reductions,” said Davis, adding that diamond demand is always at the mercy of fashion.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

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