In the US, diamonds are a millennial's best friend

New York

DIAMONDS are making a comeback in America as more millennials fall for crystals long associated with "eternal" love.

US diamond demand hit US$40 billion in 2016, up 4.4 per cent from the prior year and comprising half of global diamond revenues for the first time since the 1990s, according to global diamond mining and retail giant De Beers.

The surge has come despite sluggish economic growth and overproduction of the jewels that has depressed prices, said Stephen Lussier, vice-president of marketing at De Beers. The industry has gotten more bullish in America with the success of a marketing pivot targeted at millenni…