The term 'Gloves on Diamonds' can be summarized as 'MITTS', which is a five-letter word. MITTS are a type of glove that covers the entire hand and usually have no separate opening for each finger. They are often made of wool or other warm materials and are commonly used in cold climates. MITTS are also sometimes used in sports such as baseball, skiing, and snowboarding. In addition, MITTS are often used in jewelry making, where they are used to protect the hands while handling diamonds.