100%. Hence th4e requirement for the diamonds are forever ad campaign to dissuade people selling on the second hand market and the pushing of diamonds as engagement rings. As a geologist, I always thought that if someone wanted to invest in a precious stone, better off going for something with greater scarcity like a truly clear star saphire or ruby with little silk outside the star.
However, these are still little barometers in the unfree marketplace of fiat debt fuckery