On a different topic, what is the nature and role of jewelry in current American society?

In the great Recession there was a definite Cheap is Chic vibe going on and many people dressed down even if they could afford more expensive goods.

Gold (and platinum) have been so expensive now for a couple of years that the common man can’t afford even simple rings out of those materials anymore.

Any feeling on whether certain types of self-adornment will come back in style?