No way -- only 籽料 is more expensive than gold

And only true white 和田籽料 is more expensive than gold. 

籽料 raw material is typically small.  It's very rare to find a pebble that's big enough for a 58mm bangle.

Bangles are usually made of 山料, typicically 和田青玉 that is a lot cheaper than 和田白玉。

 

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