Why is diamond more expensive than gold?

Diamonds are more expensive than gold primarily because of their rarity, the complex process of cutting and polishing, and the demand driven by their symbolic value in engagements and luxury. While gold is a precious metal with intrinsic value, diamonds are evaluated based on the 4 Cs (cut, color, clarity, and carat), which can make higher-quality diamonds exceptionally valuable. Additionally, marketing and the perception of diamonds as rare and special contribute to their higher price.