Legends say that wearing a peridot pendant can bring happiness and contentment. Set in gold and surrounded with diamonds, the power of a peridot is said to intensify. Legends say that wearing a peridot pendant can bring happiness and contentment. Set in gold and surrounded with diamonds, the power of a peridot is said to intensify. Blue Topaz is known as the gem that has the power to improve one’s communication skills. A blue topaz pendant may make you a more eloquent and confident speaker.