A process for manufacturing diamond cut rope chain jewelry from hollow rings of gold material or other precious metal or alloy. The process provides for the formation of hollow rope jewelry having faceted surfaces formed by a diamond cut process. The diamond cut process is facilitated by positioning the chain on the drum of a diamond cut lathe using a tool having a convex head of polished steel that is precisely positioned for urging the chain into position. The tensile strength of the chain is increased by a thermal tempering process to achieve the required tensile strength for resistance to breakage.