(NewsNation) — Although lab-grown diamonds have become popular in recent years, World Diamond Council President Feriel Zerouki recently told Reuters that the synthetic alternatives are starting to lose their appeal.

The cost of natural diamonds has been in decline since mid-2022, following a peak earlier that year. This has been in part due to the growing popularity of lab-grown diamonds, especially among younger consumers.

However, Zerouki explains that the falling prices of lab-grown diamonds stemming from increased production are starting to reduce consumer interest in them.

'Lab-grown diamond bubble has burst': Industry official

Lab-grown diamonds can cost up to 85% less than natural diamonds, according to Quartz. Additionally, the average wholesale price of one and two-carat lab-g

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