Price fluctuations
Historically, rough diamond prices have been controlled by the De Beers Group, which has a 40% to 50% market share. Botswana is currently the largest producer of diamonds by value, with mines operated by Debswana, a joint venture between De Beers and the government of Botswana. Since the 1980s, other producers have developed new mines in Russia, Canada and Australia for example, challenging De Beers' dominance (historically De Beers' market share was considerably higher). De Beers interacts with the diamond market through its trading company DTC.Polished diamond prices vary widely depending on a diamond's carat, color, clarity and cut, sometimes referred to as the 4 C's. In contrast to precious metals, there is no universal world price per gram for diamonds. The industry refers to price guides such as the Rapaport Diamond Report, PriceScope, Ajediam Antwerp Diamonds Monthly and The Gem Guide, which are published weekly, monthly or quarterly. Gemstone specialty organizations have varying standards which can be used to aid in diamond identification and pricing, including GIA, HRD and IGI. These organizations focus on research and education, which they pass on to their members and the public.
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