Culture

For investors, could diamonds be the new gold?

For investors, could diamonds be the new gold?”

While bullion trades in standard weights and purities, diamonds vary according to cut, clarity, colour and carat, making them generally harder to buy and sell as an investment.

The firm claims it is a revolutionary new investment product created to bolster investment in diamonds as an asset class by providing a standardised, liquid, and exchange-listed format for diamond trading.

The credit card-sized package of diamonds, named Diamond Bullion, also seeks to remove some of the main obstacles for trading precious stones - the subjectivity of their value.

A Singapore company has created an investment product it's hoping will help to make diamond's an investor's best friend - or failing that, perhaps, at least a solid, easily-tradable investment.

As Singapore Diamond Mint Company chairman Francis Yeoh put it, Diamond Bullion is created to be the "Gold Bullion" for diamonds, "an investment that can be passed on to future generations for years to come".

"The Diamond Bullion is created to be the "Gold Bullion for diamonds": a standard, portable and highly liquid format that allows investors to access the unlocked and true value of diamonds for the first time", Singapore Diamond Mint Chairman, Francis Yeoh said. Denominations will initially range between $100,000 and $200,000, with higher and lower values possible in future.

A mark on the Diamond Bullion developed by the International Institute of Diamond Grading and Research (IIDGR), which is part of Anglo American's De Beers Group, provides a further guarantee.

SDIX, launched in 2016, says it is the world's first and only electronic exchange for trading investment-grade diamonds.

The optical signature recognition system and serial number "enable the instant authentication of the product, using a secure mobile app", according to the company. "Investment diamonds are the most concentrated form of wealth on earth, and is an investment that can be passed on to future generations for years to come".

The initiators of the project through which diamonds become trading tools will transform these into a safe alternative to gold and money.



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