Barack Obama is to give Michelle Obama a $30,000 Diamond ring as a gift. The US President has selected a ring made by Italian designer Giovanni Bosco for his wife as a "Thank You" gift for Michelle's support during the election. It is a rare BJ20000 gold ring. The Harmony ring is made of black gold or rhodium ($4,000 per ounce, the world’s most expensive metal) and encrusted with diamonds.   read more »