Gold vs diamond: Pinay jeweler spotlights where to put money

There is a noticeable continuation of the Filipino fascination with jewelry in the booming jewelry industry, where new brands are introduced nearly monthly.

Some Pinoys wear jewelry as a sign of social status, a token of their success in life; others buy it as an investment to be passed down through the generations.

In an interview with ABS-CBN News, Haena Sia-Foo and Justin Foo of Jhaena Jewels discussed whether diamonds are more valuable than gold and how Filipinos should consider them as investments.

“In the Philippines, gold should be the first thing we offer. That’s the first introduction to jewelry investing. We can only appreciate the value of diamonds if we understand them. Every mineral, regardless of size, is an investment. You may begin with anything. Also, you are already investing when you purchase any jewelry,” Sia-Foo told ABS-CBN News.

She added, “Investing in jewelry isn’t just about gold, diamonds, or gemstones. It is all about you. It’s for yourself. What’s the story behind?”

Jumping on the gold versus diamond debate, the Pinay jeweler’s husband continued, “Gold is popular among Filipinos because it can be sold by the gram. They recognize that it is an investment.”

“Diamond buyers have a distinct market because they enjoy the idea of diamonds shining,” he added.

The Jhaena Jewels owners then spoke with ABS-CBN News about the rise of lab-grown diamonds, which are more environmentally friendly than naturally mined diamonds.

“We’re entering a new era. My younger family member said that she dislikes naturally mined diamonds because they are bad for the environment. She stated that she will only buy laboratory-made diamonds, despite her mother’s preference for earth-mined diamonds. The market for laboratory-grown diamonds is expanding. They cost less,” Foo shared.

Regarding jewelry trends that will continue next year, the Pinay entrepreneur reminded buyers to wear what is comfortable for them.

She told ABS-CBN News, “Ano ba talaga ang uso? Ano ba ‘yung pinapauso mo para sa sarili mo? Hindi lahat ng trend ay bagay sa ’yo.”

“The jewelry trend for next year is to find your own style that defines who you are, speaks to you, and is within your price range,” she emphasized.

Meanwhile, as live selling continues to drive Jhaena Jewels’ business, the company is taking another step forward by launching its own website — a “digital home” designed to provide customers with increased security and convenience.

Its purpose is to provide an additional platform for customers in the face of uncertainty surrounding social media, such as online scams and counterfeit items.

She explained that after each Facebook or TikTok Live, the content will be uploaded directly to the website, allowing customers to see which items have already been sold and which are still available from the live selling rather than watching the live minute by minute.

It will also serve as a platform for other sellers to list their items, resulting in an ecosystem similar to the well-established popular online marketplaces.