Yea with that budget I think gold ring would be the best option for now. You can try looking for diamond ring with gold casing (the holder). Shops to look for are those like Wah Chan, Habib, etc they sell affordable diamond rings. I think they might have something within your budget. No harm taking a look at those.

Good luck!

Yea Im sure they do have as well. I suggest you to just take off one day and spent the whole day in few shopping malls going to all jewellery shops. Of course avoid those expensive branded ones since you have a low budget.

That was what I did haha... Ended up getting the ring from Wah Chan.

If you are lucky, you might get a good deal from an unknown shop

If you are looking for diamond rings, just make sure they have the cert. Most common cert is GIA. For diamond ring I suggest you just concentrate on size (carat) and the cut (triple excellent, etc etc). The rest are not so important with your budget.