Marilyn Monroe sang the song "Diamonds Are A Girl's Best Friend" in the film version of "Gentlemen Prefer Blonds" which was released in 1953.
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| Credit: https://www.diamondsandjewelryunlimited.com/blog/2019/Dec/27/music-friday-marilyn-monroe-is-all-about-the/ |
Carol Channing sang the song in the original Broadway musical in 1949.
It has long been a marketing tactic of the jewelry business that diamonds were eternal and never lose their value.
It seems that is no longer true.
Diamond prices have recently fallen to their lowest level this century.
A big reason is that lab-made diamonds have gotten better and better.
An article in The Wall Street Journal recently explained how the process to make synthetic diamonds has improved so dramatically in recent years.
“Now diamonds can be made in labs that mimic the earth’s extreme pressure and temperatures, but for a fraction of the price. A decade ago, such man-made gems were novel. Today they are mainstream, and increasingly challenging the perception of diamonds as a luxury accessory.”A majority of engagement rings are now made with lab-grown diamonds.
It has now gotten to the point that lab-grown diamonds make up the majority of engagement rings.
At the same time, gold prices have gone higher and higher as diamonds prices have slumped.
In fact, gold and silver have generally been the best places to invest your money this year.
Gold is up +37% year to date.
Silver is +38% in 2025 so far.
Further, Goldman Sachs recently projected that if just 1% of private owners of U.S treasury bonds were to flow into gold the price of gold would rise to nearly $5,000 per ounce.
The new symbol of endearing love might soon become just a simple gold or silver engagement ring.
No need for a depreciating rock.
Might be a good time to cash-in your diamonds now before they're worth less, or perhaps worthless?
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