The economist stated about the stability of the market of large diamonds
Large natural diamonds have remained stable even under pressure from synthetic stones and the general stagnation of the industry. Denis Goldman, an economist and independent PR expert, told Izvestia on April 14.
According to him, the segment of stones from three carats remains a separate market, which practically does not experience competition from laboratory diamonds, which have brought down prices in the mass segment. The expert noted that wealthy buyers focus on rarity and status, which cannot be reproduced industrially.
"The impact of macroeconomic factors on the diamond market remains uneven. High interest rates, he estimates, are putting pressure on dealers and cutters, especially in India, where record stocks have formed by the end of 2024, leading to lower prices in 2025. At the same time, the demand for large gemstones is supported by wealthy buyers from the United States, the Middle East and China, while the American market remains key and shows resilience," Goldman explained.
The expert also added that new large deposits are practically not being discovered, and current reserves at the current production rate may last for about two decades. According to the economist, the potential for price growth, including a possible increase of up to 50%, remains, but it is associated with a number of risks. Among them, he highlighted the further spread of synthetic diamonds, geopolitical constraints, including increased control over the origin of Russian stones, as well as the need to reduce accumulated reserves. Significant growth, as the expert noted, is possible only with a combination of steady demand, restrained production and the absence of new regulatory shocks.
On the same day, Boris Krasnozhenov, head of Alfa Bank's Securities Market Analytics department, told TASS that prices for gem-quality diamonds could rise by more than 50% in the medium term amid a shortage of supply and steady demand for large stones. The cost of raw materials may reach $180-190 per carat against about $120 in 2025.
On December 17, 2025, Sergey Takhiev, head of the Corporate Finance and Investor Relations Department at Alrosa, said that the world's diamond reserves of 1.8 billion carats, which can be considered economically viable for mining, will be enough with annual production of 90 million carats for 20 years, and if these indicators are reduced, these reserves will be sufficient. for 50-60 years.
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