Gemstone investment is the new way to make good money. With 2024 coming, people are looking for non-traditional investment alternatives such as diamonds, colored gemstones, cryptocurrency, watches, and other luxury items.
In gemstone investment, precious stones such as rubies, sapphires, emeralds, and diamonds seem promising. This blog deals with one of these precious colored stones, ‘the ruby gemstone.’ This blog discusses why one should invest in this red-hued stone in 2024. Investing in these assets can be highly speculative and depends on various factors, including market conditions, trends, ruby stone price, and individual preferences.
Historical Significance and Rarity
These fantastic gemstones from the corundum family, also known as Manik in Hindi, hold great historical significance. They were used as talismans, adorned in armor, and known as epitomes of wealth, protection, and power. In many cultures, the significance of these red gems holds different values.
In Hindu culture, kings offered them to Lord Vishnu to gain wealth and power. In Burmese culture, natural ruby stone symbolizes protection. They were inserted into the skin of soldiers, thinking they shielded the body from weapons.
Other than this, the stone’s color resembled the color of blood and was thus thought of as a remedy for blood-related diseases.
The historical significance of these gems resonates still today. Manik stones are recognized as highly valued astrological gems that can bestow wealth and prosperity.
The rarity of these gemstones accounts for another reason to invest. Natural Burma ruby stones are among the rare gems with a rare hue, ‘the pigeon red blood’ color. This vivid red color with eye-clean clarity accounts for the higher prices.
Durability of the Gemstones
Natural precious gems such as manikya stone are durable. They rank nine on the Mohs scale of hardness. Their fair hardness makes them a preferable choice for jewelry pieces. Investing in durable gems is a good decision as they can be passed on from generation to generation. Who won’t love passing on rare and durable gemstone studded heirloom jewelry to their daughters or daughters-in-law? Of course, every one of us.
High-expense, high priority
Investing in expensive items is a great way to preserve and potentially grow wealth over time. These assets often have intrinsic value, may serve as hedges against inflation, and can offer unique opportunities for portfolio diversification. Untreated and high-carat Burma Ruby gemstone, for instance, demands higher prices. The manikya stone price in India starts from INR 2,000 and may extend up to 60,000 or even more. Large-size gems with bright red hues are difficult to find. This scarce availability makes them rare.
Sunrise ruby stone, sourced from Burma, is the most expensive gemstone in the world. It is one of the perfect examples of how investing in such colored gems seems worthwhile. This precious gem weighs 25.59 carats (such a weight ruby is challenging to find in nature). The price at which this stone is sold highlights its expensiveness other than diamonds.
Multiple uses of gemstone
Manik stones are used in diverse portfolios. Rubies are highly sought after in the jewelry industry, prized for their vibrant red color and durability. Investing in these gems involves capitalizing on their timeless appeal, as they are often used in high-end jewelry pieces such as rings, necklaces, and earrings.
In conclusion, investing in Ruby stone in 2024 presents a compelling opportunity for diverse reasons. With a rich historical allure, these gemstones hold intrinsic value, particularly in the flourishing jewelry industry. Beyond financial considerations, these gems offer a unique portfolio diversification chance, catering to aesthetic and spiritual markets.
However, prospective investors should exercise due diligence, staying abreast of market trends and ethical sourcing practices. The allure of these gemstones lies not only in their vibrant hue but also in their multifaceted role as both a symbol of luxury and a resilient investment choice.