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Peridot is a precious gemstone sometimes called chrysolite, it is a gem quality form of olivine, and is the birthstone for the month of August. Peridot is one of the few gemstones that only occurs in one color, which is an olive green, the intensity of the color depends on it's content of iron. Known as the stone of compassion, peridot can help bring peace in relationships, as well as balance the emotions and thoughts, and is considered a high vibration stone for the heart chakra.