This invention provides a jewelry alloy which improves mechanical properties of AuIn2 while preserving its attractive blue hue. In one embodiment, said mechanical properties comprises fracture toughness and hardness. In one embodiment, said jewelry alloy consist essentially of 43.0 to 49.0 wt % Au; 51.0 to 57.0 wt % In; 0.001 to 1.0 wt % of one or more elements selected from the group consisting of Fe and Ge; and 0.001 to 1.0 wt % of one or more elements selected from the group consisting of Rh, Ir and Ru.