Diamond trade
The diamond trade involves the sourcing, cutting, selling, and distributing of diamonds, primarily for use in jewelry. It operates on a global scale, with major centers in countries like Belgium, India, and the United States. Diamonds are mined from the earth, then processed and polished before reaching retailers. The trade is regulated to some extent to prevent conflict diamonds—those mined in war zones and sold to finance armed conflict— from entering the market. Price and value are largely determined by the "Four Cs": carat weight, cut, color, and clarity, which assess a diamond's quality and rarity.
Additional Insights
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The diamond trade involves the buying, selling, and distribution of diamonds, primarily for use in jewelry. Diamonds are sourced from mines, often in countries like Canada, Russia, and Africa. They are then cut and polished before reaching retailers. The trade is influenced by factors like demand, market competition, and ethical concerns, particularly regarding "blood diamonds"—stones mined in conflict zones. Organizations like the Kimberley Process aim to prevent the sale of these unethical diamonds. Overall, the diamond trade is a significant global industry encompassing mining, manufacturing, and retail, deeply tied to luxury markets and consumer culture.