Paraíba tourmaline prices have surged, outperforming gold and inflation post-pandemic. Land invasions and lockdowns crippled supply from key mines in Mozambique and Brazil, while luxury houses like Bvlgari and Tiffany & Co drove demand. This rare neon-blue gem now commands up to $50,000 per gram, doubling or tripling in value since 2020.

Supply shocks from civil unrest in Mozambique, following disputed 2024 elections, compounded Covid-era disruptions. Gemologist Kevin Ferreira notes buyers are paying premiums to secure scarce Mozambique material. The broader colored gemstone market mirrors this trend, with Colombian emerald prices rising 60% over a decade, though Paraíba’s 10,900% surge since 1991 remains unmatched.

Investors view these stones as tangible assets amid volatile markets. However, experts caution that unlike bullion, gemstones lack short-term liquidity and require certified authentication for resale. With production still constrained, premium Paraíbas—prized for their vivid color—are expected to maintain their upward trajectory, appealing to collectors and luxury consumers seeking stores of value.