this post was submitted on 01 Jun 2025
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Futurology

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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

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[–] Kolanaki@pawb.social 2 points 3 days ago* (last edited 3 days ago) (3 children)

Are they able to lab grow the same kind of gem quality diamonds that you usually think about when it comes to jewelry, or is it still mostly industrial applications (such as diamond tipped drill bits)?

[–] Honytawk@feddit.nl 1 points 3 days ago

It is the blood and slavery that make natural diamonds so valuable /s

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[–] someguy3@lemmy.world 6 points 4 days ago* (last edited 4 days ago) (8 children)

Why not lab grown gold?

*(it's not a serious question)

[–] Ek-Hou-Van-Braai@piefed.social 5 points 4 days ago (1 children)

Diamonds are just Carbon atoms in Chrystal form.

You can take carbon from say coal, turn it into a Chrystal and you've got a diamond.

Gold is just gold atoms, you can't make gold atoms

[–] Aceticon@lemmy.dbzer0.com 1 points 4 days ago* (last edited 4 days ago)

Well, you can make gold atoms (see here), but it takes many times more energy per atom because the energy contained in the bonds between neutrons and protons in the nucleous of atoms is many-fold the energy contained in the bonds between atoms (just see the difference in potency of conventional explosives - which release energy contained in the links between atoms - and fission and fusion bombs - which release the energy contained in the bonds within the atomic nucleous) hence it's not really an economic viable way of making gold.

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[–] FundMECFSResearch@lemmy.blahaj.zone 6 points 5 days ago* (last edited 5 days ago) (8 children)

I find the idea so dumb that we have a high value for a metal that objectively has few worthwhile uses. And because our folklore made up a high value from this. We’re gonna spend hella resources to extract it from fucking asteroids. Even tho it has no objective major value.

(Imagine how many people we could feed with those resources instead)

[–] GreyEyedGhost@lemmy.ca 2 points 3 days ago (1 children)

Gold has plenty of uses, besides being shiny and easy to work with. Imagine if all your electronics used gold traces because they were so cheap. Imagine if the windows of your car were coated in gold like on an airplane so you could easily defrost them in the winter rather than blowing air at it in the front and potentially distracting lines in the back. Imagine if gold was the filling of choice since it has a similar expansion rate to teeth. Gold has a number of applications in space. Ever wonder why the JWST is that color?

There are plenty of things gold would be excellent for if it wasn't so expensive.

[–] squaresinger@lemmy.world 1 points 3 days ago (2 children)

https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/

Only 7.16% of gold usage is for technology. The other 92.84% are just for purposes of being shiny. If we dropped gold from jewellery and as a proxy for money, there would be more than enough gold to go around and the price of gold would drop a lot.

[–] Honytawk@feddit.nl 1 points 3 days ago (1 children)

Still not enough to use gold instead of copper for wiring

[–] squaresinger@lemmy.world 1 points 3 days ago

I don't think gold would make really good wiring.

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[–] sartalon@lemmy.world 4 points 5 days ago (1 children)

Yeah, I just can't understand why people would pay more money for something that looks objectively nicer.

Fuck shiny polished gold, that is more easily made into jewelry, doesn't react with skin, compliments many gemstones, and doesn't significantly corrode, I want a pig iron wedding ring.

:)

It’s abundant though. We have thousands more times gold in circulation than used as jewellery. So if it were just jewellery then it’s be dirt cheap.

The reason its so expensive is people use it as investment. Like they hold massive amounts of it. It’s like a made up commodity.

[–] kreskin@lemmy.world 2 points 4 days ago

still one of humanity's less stupid ideas, even so.

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[–] boreengreen@lemm.ee 4 points 5 days ago

Neat! Let it come down to it's real value.

[–] socsa@piefed.social 3 points 4 days ago

Careful there, you'll trigger a lot of gold worshiping tryhards

[–] Montreal_Metro@lemmy.ca 0 points 5 days ago

If one day there are folks mining asteroids for gold they will not be humans as we will make ourselves extinct before that ever happens.

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