Gold and silver are rising, so why are diamonds 💎 not rising but instead collapsing?

Last night, this question suddenly flashed in my mind, so I tried to summarize the answers with AI. The reasons for the collapse include:

1⃣ Increased supply, especially the explosive growth of the synthetic diamond industry, which has eliminated the scarcity threshold for natural diamonds.

2⃣ Demand collapse, the narrative marketing of diamonds = love has already diminished. Nowadays, young people don’t find buying gold to be outdated; instead, they see it as practical and appreciating in value.

3⃣ Investors never control the second-hand market. The recycling price of second-hand diamonds is only about 10% of the original price, with extremely poor liquidity, while almost all other luxury goods have a mature second-hand market and better liquidity.

4⃣ No hedging attributes and investment consensus. The "value" of diamonds is essentially created by marketing + monopoly, rather than true scarcity + essential demand. Moreover, there is no industrial demand support or central bank purchases like gold.

After summarizing the main reasons for the collapse of diamonds, I find it increasingly difficult to smile.

Isn’t this just talking about diamond holders like me 💎? Holding a handful of diamonds, waiting for the next season, this overflow, that rotation......