Natural diamond industry seeks to rediscover sparkle

Not long after Swift posted a photo of that stunning ring on her social media platforms, fans quickly noticed the size and uniqueness of the diamond – an antique stone that is somewhere between eight and 10 carats, set on a yellow-gold says a report in businesstimes.com.sg

Al Cook, the chief executive officer of De Beers, a leading diamond miner and producer, weighed in on the diamond on Swift’s ring: “It’s an old-mine cut that’s rarely seen these days.” It is part of a concerted effort to counter the growing popularity of lab-grown diamonds, which have flooded the market in recent years and undercut the prices of natural diamonds.

Lab-grown diamonds can be produced quickly – within a matter of months or even weeks, in some cases – and are almost identical to natural diamonds in cut, colour, clarity and weight.

Lab-grown diamonds account for nearly half of all engagement ring purchases worldwide in 2024.