Attention, girls: Diamonds may not be your best friend

March 6, 2009

Marilyn Monroe, who sang “Diamonds are a girl’s best friend” in the 50s, might be shocked to find out that the value of dimonds has fallen rapidly in the past six months.

According to Nomura, the average best price for to quality 1-Carat diamonds has fallen below $7,000 from hitting a multi-year high near $9,000 in September 2008.

Perhaps gold might grab her attention. The metal has surged towards $1,000 an ounce in the past weeks as investors rushed to seek save-haven gold when stock markets came under renewed pressure.

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When thinking of diamonds for investment you may want to look at purchasing an antique diamond as you can often get a lot more “diamond” for your money. You can also get larger diamonds for less if you avoid large jewellery brands. Although there are some fabulous brands out there you pay a lot on top of the diamond value for simply having their brand on the piece.

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