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About 100 units in India's LGD growing and manufacturing industry have voted to observe a 15-day summer holiday starting May 15, hoping to control the rough and polished LGD supply and stopping the massive price drops seen in the LGD market. Traditionally, the (natural) diamond industry closes shop for a holiday period during Diwali.
Pandora reported solid first-quarter sales driven by lab-grown diamonds.
With an endless supply of lab-grown diamonds flooding the market, the future value for both the natural and man-made stones in uncertain.
This week: How high will gold go? Is there a slowdown at Tiffany? And Drake gets diamond tooth removed, after people mistook it for food. All below.
Last year, lab-grown diamonds made up more than 17% of the diamond market, according to diamond research analysis agency, Edahn Golan.