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Known as the stone of compassion, peridot is believed to bring good health, restful sleep and peace to relationships by balancing emotions and mind. This friendly bright green stone also has the uncanny ability to inspire eloquence and creativity; it also brings delight and good cheer.Zodiac signs that should wear Peridot gemstone are Leo, Virgo, Scorpio and Gemini zodiac signs. If you are born in the month of August, then the Peridot stone would be very beneficial for you as peridot is the August birthstone. Peridot is also worn as a substitute for Emerald gemstone.