My personal belief is that jewelry occupies a different role in itself than many other things...
For example, we wear clothes for the purpose of covering ourselves and being modest. Of course, we can allow clothes to occupy to become so important that it becomes an idol, a status symbol. However, clothes has a functional purpose in itself. The same thing with a car. The function of cars is to take us from point A to point B. A car can become an idol, if we place too much value on it. However, a car has a functional purpose in itself.
What is the function of jewelry in itself? Herein lies the difference. Honestly, it doesn't aid us in doing anything necessary. The only function of jewelry is to augment self and make self look better. If God wanted me to do that, He likely would have made me with holes in my ears, for example. Jewelry was a status symbol in the past, and many times it is a status symbol today. That's why some people want only more expensive and nice looking jewelry, even if they don't wear much. But even if one doesn't consider if a status symbol, as long as we are clean, neat and presentable, why do we need to augment our outer self?
Of course, there is nothing wrong with wanting to look nice. But everything can be taken too far. God wants us to concentrate on adorning our hearts with His principles, rather than adorning the outer person. 1 Timothy 2:9-10. When we concentrate on Him, then we do good works. Obsession with self is Satan's problem, one that we ought not to adapt. And even if I may be fine with a little jewelry, I refrain in case my actions may cause someone else to stumble back into their obsession with adornment. God wants the best for us, so that's why He instructed us that way.
So that's why I tend to refrain from jewelry, even though I would like to wear a bindi on my wedding day.
That being said, I don't knock anyone who wears it. There are certainly simple and God-fearing women that wear jewelry, often a little amount. It's just that there is more to the issue than meets the eye. It took me a bit to understand that principle behind it, and it was only then that I applied it to my life.
God bless ladies.
P.S. I truly don't believe Blazing meant anything by this thread, which is why she began with her personal feelings about jewelry and then followed up with what she found in the Scriptures. Sometimes when you are really excited about the Word, you are excited to share to your fellow sisters and brothers in Christ.