An ounce of diamonds doesn't funge like an ounce of gold. Each diamond has different purity and color characteristics. Diamond traders do exist but due to the

An ounce of diamonds doesn't funge like an ounce of gold. Each diamond has different purity and color characteristics. Diamond traders do exist but due to the characteristics of individual diamonds, they're more like bond traders. Bluenile.com is a good example of a retail diamond exchange.