Peridot - the birthstone for August. Peridot is a green gemstone that is as popular today as it was in the past. It is considered to have the power to drive away evil spirits and that power was even more intense when the stone is set in gold. They are receptive and promote protection, health, wealth and sleep. Peridot is worn or carried for general healing purposes. Its deep green hue suggests its use in wealth - attracting spells. Peridot is found in Burma, Pakistan, China and USA. Peridot is the birthstone for the zodiac sign of Leo.