Opals have emerged as one of the big jewelry trends of 2014. Cate Blanchett’s stunning Chopard opal earrings received almost as much attention at the Academy Awards as her Oscar-winning performance. Her earrings demonstrated all the traits that are making opals so popular right now: they are lustrous, reflecting the fire of many colors. Blanchett explained her decision to don them for the Oscars, saying that opals are “must-haves” for Australians, as they are the country’s national gemstone. Opals are found in deposits around the world, but are most abundant in Australia, which produces 97 percent of the world’s opals.