International News
Bangkok Gems Surges Ahead: 73rd Edition Targets 150 Million USD in Trade Value
Thailand’s premier trade event expands exhibition space to host over 1,300 companies, eyeing record-breaking exports following a 53% surge in industry growth.
The Department of International Trade Promotion (DITP), the organizer, together with the Gem and Jewelry Institute of Thailand (Public Organization) or GIT, co-organizer, along with key public and private sector partners, held a press conference to announce preparations for the 73rd Bangkok Gems and Jewelry Fair, scheduled to take place from February 22–26, 2026 at the Queen Sirikit National Convention Center (QSNCC), Bangkok. The event is expected to generate trade value exceeding 150 million USD.
Sunanta Kangvalkulkij, Director-General of the Department of International Trade Promotion (DITP), the organizer, Chair of the press conference, stated:
“Over the past 40 years, the Bangkok Gems and Jewelry Fair has served as a key driving force for the industry. It has played a vital role in connecting buyers and sellers from around the world, creating business opportunities and trade partnerships, enhancing the international reputation of Thai products, and continuously promoting exports.
Today, Thailand has achieved its goal of becoming one of the world’s leading hubs for the gems and jewelry trade. Bangkok Gems has also significantly contributed to the export growth of Thailand’s gems and jewelry sector (excluding unwrought gold). During the first 11 months of 2025, after deducting re-export values, exports in this category reached 12,124 billion USD, representing a growth of over 53 percent. She added, Bangkok Gems has experienced remarkable growth in terms of exhibitor numbers, visitor attendance, and trade value. The fair is now recognized as one of the world’s four most important gems and jewelry trade fairs and is the largest global marketplace for colored gemstones. To accommodate strong demand from both Thai and international exhibitors, the organizers have expanded the exhibition area to include the Plenary Hall on Level 1, allowing the 73rd edition to host more than 200 additional booths. This further reinforces Thailand’s position as a global gems and jewelry trading hub. The event will feature more than 1,300 companies, over 2,800 booths from more than 20 countries, and is expected to attract over 45,000 visitors, generating trade value exceeding 150 million USD.”
Boonyarit Kalayanamit, Chairman of the Board of the Gem and Jewelry Institute of Thailand (GIT), the co-organizer, stated that the Bangkok Gems is widely recognized as an international trade platform that plays a critical role in Thailand’s gems and jewelry industry. It reflects Thailand’s strong capabilities as a leading manufacturing hub for gem and jewelry, particularly in craftsmanship and expertise in colored gemstone enhancement. These strengths have earned the trust of leading global jewelry brands, which continue to choose Thailand as a production base. More than 80 percent of exhibitors at the fair are Thai manufacturers offering comprehensive OEM and ODM services, which is a key highlight of the fair.
The co-organizer also revealed that the fair is honored to be graciously presided over at the opening ceremony by Her Royal Highness Princess Sirivannavari Nariratana Rajakanya. In addition, a special exhibition will be presented, showcasing jewelry designs created under Her Royal Highness’s vision and crafted by Thailand’s master artisans. The exhibition reflects Her Royal Highness’s commitment to continuing the royal initiatives of Her Majesty Queen Sirikit, the Queen Mother, to preserve and elevate Thailand’s handicraft heritage on the global stage. The 73rd Bangkok Gems and Jewelry Fair will be held from February 22–26, 2026 at the Queen Sirikit National Convention Center, Bangkok.
A staggering 14% rally in January took gold above the US$5,000 mark, cementing the 5k number as a headline to match the first recorded annual 5,000 tonnes of total demand. The month closed at US$4,982/oz and scored 12 all-time highs. But it was not without drama with large intraday swings on the last two days of the month.
Our Gold Return Attribution Model (GRAM) showed an unusually large contribution from implied volatility (c.50% of January’s return), reflecting substantial option market activity. This variable currently sits in risk & uncertainty, although is likely more reflective here of momentum.
Global gold ETF flows provided plenty of support adding 120t in January to take holdings to a new record, valued at US$669bn. The flows were dominated by Asia (62t) and North America (43t) while Europe saw more modest inflows
Key Price Figures (January 2026)
The month was characterized by relentless momentum, scoring 12 all-time highs before ending with significant intraday volatility.
| Metric | Value (USD) | Peak Date |
| January Closing Price | US$4,982/oz | Jan 30, 2026 |
| All-Time Record High | US$5,307/oz | Jan 28, 2026 |
| Monthly Return | +14.1% | — |
Performance in Other Major Currencies (Jan Return):
- INR: +23.9% (Record high: ₹176,306/10g)
- RMB: +19.2% (Record high: ¥1,248/g)
- EUR: +13.0% (Record high: €4,444/oz)
Major Market Drivers
- Momentum & Options (GRAM Model): Approximately 50% of January’s return was attributed to implied volatility and massive options market activity rather than pure macro fundamentals.
- ETF Inflows: Global gold ETFs added 120 tonnes (valued at US$669bn), the strongest month on record.
- Asia: 62t (led by China)
- North America: 43t
- Europe: 13t
- The “Warsh Effect”: Late-month drama was fueled by the nomination of Kevin Warsh as the next Fed Chair. Markets perceive him as a “hawk” favoring a smaller Fed balance sheet, which triggered a sharp intraday correction from the $5,300 peaks.
Macro Outlook: The Inflation Resurgence
While geopolitics dominated January, the narrative is shifting toward resurgent US inflation risks for the remainder of 2026. Key triggers include:
- Tariff Pass-through: Lagged effects of trade policies hitting consumers.
- Fiscal Stimulus: Prospective $2,000 “tariff dividend” checks and ACA subsidies ahead of the US mid-term elections.
- Tight Labor: A falling breakeven employment rate and rising household inflation expectations.
Investment Implications
- Stock-Bond Correlation: Inflationary shocks are making stocks and bonds move in the same direction, reducing the efficacy of traditional 60/40 portfolios.
- Gold’s Role: Gold is increasingly viewed as a left-tail hedge and a “hard money” alternative as sovereign debt levels (reaching 30% of the $340T global sector debt) raise debasement fears.
The gold market is likely to “pause” after the January surge, but the combination of fiscal expansion and Fed leadership uncertainty suggests investment demand will remain a structural feature of 2026.
source :WGC
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