You can't be penalized for content within the same site.
But may I suggest
1. wedding band
2. wedding ring and ring wedding
in combinations with his, hers, gold, 10 Karat 14 Karat, engagement, bride, bridal, mens, and anything else.
Develop a hierarchy of web pages (links) so that the most used terms receive more links or referrals from the more distinct or more targeted web pages.
wedding ring (top hierarchy)
mens 10 karat gold wedding ring (as a targeted phrase and lowest in the link structure.
Note: Google AdWords can quickly help here by identifying all combinations and precise order of phrases based on what visitors actually typed in.
Where possible precise exact ordered phrases can be distinguished on different pages. (e.g. mens wedding ring or wedding ring + mens --- may be searched)