The colour spectrum of peridot gemstones includes yellowish green, olive green, and vivid deep green. Peridot is prized greatly for having a very distinctive colour that is not found in any other gemstone. In Indian Vedic astrology, peridot serves as the equivalent of emerald. According to western astrology, peridot is the birthstone for the month of August. Wearers of peridot are said to experience intelligence, harmony, and prosperity.