The precious stone market faces weak demand and rising competition De Beers Group has amassed its largest diamond stockpile since the 2008 financial crisis, reflecting ongoing challenges in the luxury gemstone market, the Financial Times reported on Wednesday, citing the company’s press office. The company, which dominates the $80 billion diamond jewelry industry, has seen inventory levels hover around $2 billion throughout 2024. The slump in demand has been attributed to weak sales in China,