TOKYO -- Diamond prices are sinking like a rock as inventory piles up amid sluggish demand and an uncertain global economy.
International prices of the highest-quality diamonds in the 3-carat weight range have dropped about 5% over the past two months to $83,000 per carat. Medium-quality smaller pieces in the 0.3-carat range often used for rings have slid 4-5% to around $2,100 a carat. Prices have been declining since the second half of 2014, but have plunged 10% or so over just the past year.
