Mr. Chandelier Man. Congrats on your necklaces full of rocks that aren't rare, aren't valuable, and are beat by synthetic stones in dispersion with no problem, and can be made for pennies on the dollar in a lab.
But congrats on showing off what a sucker you are, allowing DeBeers to synthetically inflate their value exponentially by exploiting poor, desperate, enslaved Africans in rebel controlled countries.
You must be so proud of all the people that suffered and died for your stupid rock necklace.
American males enter adulthood through a peculiar rite of passage - they spend most of their savings on a shiny piece of rock. They could invest the money in assets that will compound over time and someday provide a nest egg. Instead, they trade that money for a diamond ring, which isn’t much of an asset at all. As soon as you leave the jeweler with a diamond, it loses over 50% of its value.
Gold and silver are commodities that can be purchased on financial markets. They can appreciate and hold value in times of inflation. You can even hoard gold under your bed and buy gold coins and bullion (albeit at a ~10 percent premium to market rates). If you want to hoard gold jewelry however, there is typically a retail markup so that’s probably not a wise investment.
But with that caveat in mind, the market for gold is fairly liquid and gold is fungible — you can trade one large piece of gold for 10 smalls ones like you can a 10 dollar bill for 10 one dollar bills. These characteristics make it a feasible potential investment.
Diamonds, however, are not an investment. The market for them is neither liquid nor are they fungible.