Attention, girls: Diamonds may not be your best friend
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.