Abstract: A preform mold space is formed by two mold sections spaced from each other. A gem is positioned in the mold space, and a hardenable preform wax-like material is introduced into the mold space and into supporting contact with the gem to thereby form a preform model upon hardening of the wax-like material. The preform model is removed from the mold space and embedded in hardenable embedding material so as to form a mold cavity about the exterior of the preform model upon hardening of the embedding material. Simultaneously with the hardening process the wax-like material is melted and removed from the mold cavity while the gem remains embedded in the mold. A heated molten hardenable metal material is then introduced into the mold cavity. The hardened metal material supportingly engages different facets of the gem and fixedly anchors the latter in the article of jewelry formed by the disclosed method.