Yellow gold brings out the bronze and golden colors inside a smoky quartz pendant. White gold will highlight the brown and grey tones of the gem. Either way, you can't go wrong. 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. Ruby is known as the gem of courage. Wearing a ruby pendant can help you get through the trials and tribulations of life.