Diamond prices are down 60% since a 2011 high, and they are still falling. It’s not all down to lab-grown diamonds, demand is down too, especially in China.
No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It’s just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.
How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It’s possible gold has twenty years or less of being high value left.
The $80 Billion Diamond Market Crash Leaves De Beers Reeling
Do you not understand the offense you just did by linking to fucking fox news? Seriously?
Pearls in pig slop, I know. They reference another article, give the asteroid name, give a list of expected metals to be found, and wrap it in a lovely Fox News bow of some pundit giving his idea of what that all means for the rest of us. As journalism goes, it’s top tier for Fox.
Surprised fox didnt comment how this is against the natural order and bringing back gold from space will unleash a hoard of demons on the earth.