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How diamonds can become 'the new gold' for investors

Diamond trading has gradually become more open

Reuters  |  London 

Diamonds can at last be an investor’s best friend, the Singapore Diamond Investment Exchange (SDIX) said on Tuesday, as it launched a new standardised form of the precious stones to rival gold ingots as a safe-haven alternative to cash. The industry says diamonds are the world’s most concentrated form of wealth, but investors have long viewed them as less useful as a store of value than gold because each stone is different, making its value subjective and trading difficult. Alain Vandenborre, chairman and founder of SDIX, says technology has solved that problem and ...

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First Published: Tue, October 10 2017. 22:02 IST