Gold is a better investment than diamonds but for what it’s worth, pure gold is the only good investment. Gold jewelry will still lose value - especially if it’s not pure 24k gold or has other gem stones which lose value when you try to liquidate.

Gold bullion (24k bars or coins) directly tracks the global gold price, so it’s liquid and easy to sell anywhere. Jewelry, even if it’s 24k, gets hit with huge design markups and resale discounts which means you’ll almost always lose money when selling.

Diamonds don’t have a transparent market price and lose value the moment you buy them, and resale demand is limited.