Rubies are gaining popularity in the investment portfolios of millionaires. And here's why

The material is not an investment recommendation.

Rubies are gaining popularity as an investment object. This trend has been going on since 2024, but it has become especially noticeable right now, when interest in cryptocurrencies and gold is decreasing. How colored gemstones have become a trend in investments, what determines the value of rubies as a tool for preserving capital, and what these trends say is in the Izvestia article.

What makes rubies a safe haven asset?

• The interest in new defensive assets is explained by the decline in confidence in the usual gold, Treasury bonds, currency instruments and real estate. Recent crises have shown that states are increasing their external debt, which makes government bonds an increasingly risky investment over a long period of time, and the currency is devalued amid geopolitical turmoil. The conflict in the Middle East has also shown the risks of investing in real estate — housing in Dubai, which has long been considered a reliable investment, depreciated after the shelling of the UAE.

• For a long time, gold was the leader among safe-haven assets, but in January 2026 its value broke a historical record of $5.1 thousand per ounce, and now investors fear that the metal is overvalued, which means it is already risky to invest in it at existing prices. Bitcoin turned out to be too volatile for conservative investors. Against this background, precious stones look like more stable assets, although their liquidity is limited: truly valuable stones are unique, and crushing will only lose value, and it may not be easy to find a wealthy buyer quickly.

• Diamonds are traditionally highly valued among precious stones, but their value, which was held thanks to the monopoly of the British company De Beers, has dropped significantly over the year due to the increase in the production of artificial stones. At the same time, the RAPI index shows that the exchange rate for small diamonds is gradually recovering, and the cost of larger stones from 1 to 3 carats continues to decrease. Demand for diamonds remains high, but interest in colored gemstones such as rubies, emeralds, and sapphires is also growing. There is no special index for them, but not all stones have investment value either: to become a reliable investment, they require reference quality, correct origin, and sometimes a story that adds additional value to the gem.

• The advantage of precious stones is that the high cost is contained in a fairly small volume. It is important that they do not have to be stored in a bank: after the seizure of the property of citizens of countries subject to European and American sanctions, confidence in the banking system decreases. If gold bars can lose value due to scratches, then this is excluded with stones: valuable corundums (rubies and sapphires) have a hardness of 9 on the Mohs scale and are not subject to abrasion. In addition, investments in precious stones compare favorably with investments in real estate in that they are not subject to annual taxes — in most countries, the tax on them is provided only upon sale.

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Which rubies are valued

• Rubies are the most valuable of the colored gems. Despite the fact that ruby deposits exist in Africa, Asia, and even the United States, the most valuable stones of reference quality are mined only in Myanmar and Mozambique. Myanmar, which was called Burma until 1989, occupies 90% of the global ruby market. The legendary "Burmese" blue-tinged "pigeon blood" rubies are mined here, which are the most valuable gems along with Kashmiri sapphires and Colombian emeralds. Since the deposits in Myanmar are almost depleted, and internal conflicts in the country complicate mining and trade, the rarity of the stones gives them additional value. Mozambique rubies are also becoming rare due to export restrictions imposed by the country.

• Over the past few years, the price of certified stones of the highest quality has tripled. The value of Burmese rubies from the Mohawk mine with a value of three carats can range from $40,000 to $100,000 or more. Mozambique minerals are valued three times cheaper.

• The investment value consists only of natural stones that have not been subjected to heat treatment. Sellers heat the stones to improve the color and transparency, but if this is revealed by an expert assessment, the price of the copy will drop. In the case of rubies, the popularity of artificially grown stones has only increased the value of natural minerals. Cut and weight also play a role — rubies weighing more than one carat are very rare and therefore highly valued. The quality of rubies is confirmed by certificates from the Swiss Gemological Institute SSEF or the Swiss Gemological Research Laboratory GRS.

• "Vintage" rubies and stones, decorated in jewelry marked by famous brands Van Cleef, Cartier and Bvlgari, are only increasing in price. Given the reduction in mining and the increase in the number of stones of questionable quality and origin (illegal ruby trade is flourishing in Myanmar), as well as the rarity of rubies of reference quality, stones with a history become a more reliable investment than new rubies appearing on the market.

What does that mean?

• The main demand for jewelry and precious stones has been formed in the Middle East, India and China, which shows that in developing economies there is a growing number of the super—rich who are looking for a way to save capital in the face of geopolitical tensions. In all likelihood, investors expect that the crisis may be prolonged, since investments in stones are effective in the long term — about 10-15 years.

• Investments in rare minerals demonstrate a change in the perception of wealth: if earlier the growth of wealth was associated with production, now it is the possession of something scarce, unique. Rarity becomes a factor determining the success of investments, so semi-precious stones can be more expensive than diamonds. In particular, Burmese Mahenge spinel, Brazilian Paraiba tourmaline and tanzanite are of high value.