404
Lab-grown diamonds have helped diamond prices plunge 60%, and former monopolist De Beers is in crisis mode. One day asteroid mining will do the same for gold. (futurology.today)
submitted 7 months ago by Lugh@futurology.today to c/futurology@futurology.today
102 comments fedilink hide all child comments

Diamond prices are down 60% since a 2011 high, and they are still falling. It's not all down to lab-grown diamonds, demand is down too, especially in China.

No one can lab-grow gold yet, so its rarity and scarcity protect its value, but that will end too. It's just a question of when. China launched an asteroid touch-down mission this week, which will make it the 4th country/region to do so, after Europe, the US & Japan.

How soon will it be feasible to mine asteroids? Who knows, but a breakthrough in space propulsion might mean the prospect happens quickly when it does. It's possible gold has twenty years or less of being high value left.

The $80 Billion Diamond Market Crash Leaves De Beers Reeling

you are viewing a single comment's thread
view the rest of the comments
[-] Speculater@lemmy.world 33 points 7 months ago

Have we even confirmed there are asteroids made of gold yet?

[-] GreyEyedGhost@lemmy.ca 33 points 7 months ago
[-] Rubisco@slrpnk.net 34 points 7 months ago

Surely there exists a better source. Not clicking on Fox News.

[-] M137@lemmy.world 6 points 7 months ago

Do you not understand the offense you just did by linking to fucking fox news? Seriously?

[-] GreyEyedGhost@lemmy.ca 10 points 7 months ago

Pearls in pig slop, I know. They reference another article, give the asteroid name, give a list of expected metals to be found, and wrap it in a lovely Fox News bow of some pundit giving his idea of what that all means for the rest of us. As journalism goes, it's top tier for Fox.

[-] Clinicallydepressedpoochie@lemmy.world 8 points 7 months ago* (last edited 7 months ago)

Surprised fox didnt comment how this is against the natural order and bringing back gold from space will unleash a hoard of demons on the earth.

[-] Ledericas@lemm.ee 1 points 7 months ago

Asteroid might remain too expensive if it's even possible, with rocket fuel, mining equipment in space,etc

[-] Ledericas@lemm.ee 1 points 7 months ago

Good source of iridium, which is rare on earth

this post was submitted on 01 Jun 2025
404 points (99.5% liked)

Futurology

3671 readers
110 users here now

founded 2 years ago
MODERATORS
voidx@futurology.today
Lugh@futurology.today
Espiritdescali@futurology.today
AwesomeLowlander@futurology.today