Why Are Diamonds More Expensive than Gold?

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Most of you might be thinking – the free market establishes the fundamental relationship between supply and demand, but this is not that simple. For most metals and stones, their perceived rarity is the leading indicator of their value in the market. Gold is relatively rarer than diamonds, but gold is the fifteenth most valuable material on Earth, whereas diamond sits in the top five – behind the likes of Californium and Antimatter.

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