Trump tariffs are the fuel driving gold prices higher. Gold has hit another fresh new all-time high level of $3,082 and is looking to stay strong amid global trade uncertainties. Gold is on track for its fourth consecutive weekly gain and its largest monthly rise since March 2024.US Spot gold climbed 0.6% to $3,073.79 an ounce, , after hitting an all-time high of $3,077.44 earlier in the session. Bullion is up 1.7% so far this week.Uncertainty surrounding tariffs, potential for interest rate cuts, geopolitical conflicts and central bank buying have all played a role in fueling gold’s surge in 2025.

Gold prices are rising amid ongoing global trade tensions and tariffs imposed by President Trump. With a 7.12% increase this month and a year-to-date gain of 17.11%, investors are flocking to gold as a safe haven, reflecting concerns over economic stability and potential recession.

Uncertainty surrounding tariffs, potential for interest rate cuts, geopolitical conflicts and central bank buying have all played a role in fueling gold’s surge in 2025.Gold prices scaled a record peak on Friday as concerns over U.S. President Donald Trump’s fresh tariff plans ignited fears of a global trade war, driving a rush towards the safe-haven allure of the precious metal.

A ruby necklace was the star of a recent Sotheby’s auction in Paris, where it sold for more than double its high estimate. it surpassed its EUR 300,000 ($322,946) top price to bring in EUR 609,600 ($657,035), according to Sotheby’s. In total, the auction garnered EUR 7.2 million ($7.8 million).

The necklace, featuring a cushion-shaped, 3.12-carat, pigeon’s blood Burmese ruby, took the top spot at the March 26 Fine Jewelry sale.

jewelry auctions are more than just events — they play a pivotal role in defining the value of fine diamonds, gemstones, and jewelry. These auctions not only demonstrate resale trends but also offer a fascinating glimpse into the evolving tastes of collectors and investors around the globe.

Cash transaction curbs hit Hong Kong diamond trade, impacting its competitiveness.

Hong Kong’s jewellery trade shows, historically significant hubs for diamond and gemstone transactions, are undergoing a period of significant transformation. Recent regulatory changes, particularly the elimination of cash transactions for diamond dealers, have fundamentally altered the market dynamics. This analysis examines the impact of these changes, the resulting challenges, and potential future implications for the industry.

Hong Kong has long been a vital center for the global jewellery trade, renowned for its strategic location, established infrastructure, and vibrant trade shows. Historically, the city’s appeal lay in its status as a cash market, facilitating swift and discreet transactions, particularly in diamonds.

Hong Kong’s position as a prominent cash market has been compromised, impacting its competitiveness. This has caused a decrease in some of the revenue that was historically generated at the trade shows. Compounding the challenges posed by regulatory changes is the simultaneous decline in Chinese diamond demand.

The implementation of regulations prohibiting cash transactions for diamond dealers two years ago has significantly disrupted the traditional trading practices. This change has eliminated a key attraction for dealers who relied on the anonymity and speed of cash transactions. This regulatory change was likely implemented to increase transparency, prevent money laundering, and adhere to international financial standards.
Exhibitors are now required to display regulatory certifications, indicating a heightened focus on compliance. The presence of Hong Kong’s Customs and Excise Department representatives at trade shows underscores the government’s commitment to enforcing cash rules. This has increased the level of trust in the market, for legitimate businesses.
Hong Kong’s jewellery trade shows are navigating a period of significant change driven by regulatory adjustments and evolving market dynamics. While the elimination of cash transactions has posed challenges, it also presents an opportunity to strengthen the industry’s integrity and long-term sustainability. By embracing digital innovation, diversifying market focus, and maintaining a strong regulatory framework, Hong Kong can solidify its position as a leading global jewellery trading hub.

• Increased Compliance and Transparency
• Decline in Cash Market Status
• Weakened Chinese Diamond Demand

This external factor further exacerbates the difficulties faced by the Hong Kong jewellery trade.
Challenges and Implications:
• Reduced Transactional Volume:
The elimination of cash transactions may have led to a decrease in the overall volume of transactions at trade shows, as some dealers may have shifted to alternative markets.
• Shift in Market Dynamics:
The industry is adapting to a new era of transparency and compliance, requiring adjustments in business practices and strategies.
• Competitive Pressure:
Hong Kong faces increased competitive pressure from other jewellery trading hubs that may offer more flexible transaction options.

Impact on Small and Medium-Sized Enterprises (SMEs):
Smaller businesses that relied on cash transactions may be disproportionately affected by the regulatory changes.
Need for Digital Adaptation:
The industry must embrace digital transaction methods and technologies to remain competitive.
Potential Future Strategies

Enhancing Digital Infrastructure:
Investing in secure and efficient digital payment systems to facilitate seamless transactions.
Diversifying Market Focus:
Exploring new markets and diversifying product offerings to mitigate the impact of declining Chinese demand.
Strengthening Regulatory Framework:
Maintaining a strong and transparent regulatory framework to build trust and attract reputable businesses.
Promoting Hong Kong’s Strengths:
Highlighting Hong Kong’s strengths, such as its established infrastructure, skilled workforce, and strategic location, to attract international buyers.
Focus on high end goods:
Hong Kong could focus on becoming the high end market for very expensive and rare stones, where the added security and regulations are a positive.