Text to Self. It helps the Narrator connect the story to himself so the reader will visualize better
"A tiny white diamond sparkled on her finger" technically has an error since there should be a comma after "tiny" although this is becoming more common usage.
So that Gatsby can talk to daisy and he wants to reunite with her and also he wanted Daisy to come alone that's why Gatsby wanted to have tea in Nick's house because he knows Daisy will come if Nick asks her.
A it is like simile figurative and that can take many forms so it is very effective and best to read