Nowadays, diamond could be considered as one of the most expensive value, but gold and silver are worldwidely used for trading with or without being jewelry products. Why people don't take diamond as for taking good business and trade as others?

In today's life, the value of material things is increasing over time, so is money. because to prevent that from happening, there are many options such as converting money into gold, or valuable things like jewelry. Since then, there have been a few opinions as to why not let diamonds be a common exchange like gold and silver. In this essay, I will give my opinion. A diamond, by default, is a depreciating asset over time. The market for diamonds is not liquid. Also, diamonds are not fungible. Unlike gold, which is perfectly fungible - diamonds have varying cuts, colors, grades, and sizes. Therefore, it makes it hard to find similar diamonds with these characteristics. Unlike precious metals like gold and silver, which cannot be artificially produced, and thus have held value for thousands of years, diamonds can be synthesized artificially. But, the gold market is a truly global market, and gold is traded by investors all over the world. So, gold is a very important part of the international trade. Actually, for more than 5, 000 years, gold was the single commodity that was universally accepted between individuals, groups, and civilizations, which paved the way for the gold standard. despite all the advantages of international trade, it can mean some negative consequences for the current monetary system. Free movement of goods is closely related to free movement of capital. Capital mobility – in a system of fiat currencies and credit booms – can lead to hot money flows generating financial instability that can even cause a financial crisis. In such a case, gold typically shines. In short, diamond is also a valuable item, but there are quite cumbersome procedures and standards compared to gold. Therefore, it is not yet popular in the international market.