How did the global market for diamonds differ from that for gold? Group of answer choices In Africa, diamonds were an important part of transnational Jewish economic and financial networks, while the trade in gold was dominated by both transnational Lebanese and Indo-Pakistani families. The demand for diamonds was directly related to the demand for ivory, so when one went down, the other would as well. Demand for gold was only dependent on the jewelry trade. The consequences of the mining of gold and diamonds were quite different in the Cape Colony: whereas the extraction of gold involved a different set of more toxic chemicals and generated heavy corruption, the extraction of diamonds had close to no environmental impact and did not generate the same level of corruption. The price of diamonds is a direct function of their rarity, which is why Cecil Rhodes and Alfred Beit fought so hard to create a worldwide monopoly on diamonds. Gold, on the other hand, was the basis of the national currencies of most European and American countries, and its price was fixed by law in countries using the gold currency standard: the quantity of gold on the market did not affect the