Wealthy consumers are turning to jewelry as an investment, especially colored gemstones

Wealthy consumers are turning to jewelry as an investment, especially colored gemstones

Lofty gold prices and market volatility are pushing wealthy consumers toward jewelry, especially rare colored gemstones, as handbags lose appeal.

STOCK MARKET: Wealthy consumers invest in jewelry amid rising uncertainty, market volatility

When the gavel came down in December, Christie’s had set a record that created a buzz in the auction world. A Tiffany & Co. necklace adorned with a sparkling blue Paraiba tourmaline gem and diamonds sold for more than $4.2 million, 10 times its low estimate. A matching pair of earrings hit the block next, and it too sold for 10 times its estimate. A 13.54 carat Paraiba-type tourmaline and diamond necklace by Tiffany & Co. sold at a Christie’s [……