The Singapore Diamond Investment Exchange is listing a product called Diamond Bullion, or sets of investment-grade polished gems, in denominations of about $100,000 and $200,000 each.
Gross said the Fed's loose monetary policy had resulted in investors chasing yield and thus producing tight corporate spreads everywhere around the globe.
Investors forgoing a direct allocation to international markets are likely reducing their opportunity set.
This could be the first calendar year with positive returns every month.