Raw materials, and shares of some companies that produce them, hit record highs last year.
Petra Diamonds Ltd. sold a 39.3-carat blue gem.
The rise isn't limited to raw materials, commodities like beef and palm oil are soaring in value, too.
The boom was helped by bumper holiday jewelry sales, particularly in the vital U.S. and Chinese markets.
De Beers has raised diamond prices as the industry begins bouncing back from the pandemic-induced shutdown.
The aim is to draw customers back to the market after the coronavirus froze trading in precious stones.
As economies went off line, demand for precious gems evaporated.
DeBeers and Alrosa are losing their grip on the diamond market.
Lucara Diamond Corp. found the 1,758-carat Sewelo diamond at its Botswana mine last year.
The Spirit of the Rose will be the most expensive stone ever polished in Russia.
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