International News
Jewellery & Gem ASEAN Bangkok 2025: Connecting ASEAN’s Gems and Jewellery Industry to Global Markets
Scheduled for April 23-26, 2025, at the Queen Sirikit National Convention Center in Bangkok, JGAB 2025 will serve as the premier B2B platform for the ASEAN gems and jewellery sector.
Jewellery & Gem ASEAN Bangkok (JGAB) 2025 is set to take place from April 23-26, 2025, at the Queen Sirikit National Convention Center in Bangkok, positioning itself as the leading B2B event for the rapidly growing gems and jewellery market in Southeast Asia. With rising GDP growth and a burgeoning middle class in ASEAN countries such as Thailand, Indonesia, and Vietnam, the demand for luxury goods is booming, including an increasing popularity of lab-grown diamonds, further accelerating growth in the region’s jewellery sector.
The Southeast Asian jewellery market, valued at USD 9.09 billion last year, is forecast to reach USD 12.42 billion by 2033, growing at a CAGR of 3.35% from 2025-2033. The global appreciation for gemstones from ASEAN countries, including sapphires, jade, rubies, and silver, is expanding, with Thai jewellery designers making notable contributions with their creative designs. Last year, the export value of gems and jewellery reached USD 9.6 billion, marking a 10.9% year-on-year increase, presenting a significant opportunity for international buyers seeking new partnerships in the region.
JGAB 2025, backed by Informa Markets’ global Jewellery Network, will offer a world-class experience for exhibitors, buyers, and trade visitors. Under the theme “Connecting the World with ASEAN’s Jewellery Excellence,” the event will feature an ASEAN Pavilion, the inaugural Jewellery & Gem ASEAN Summit, and the opportunity to engage with over 150 experts from leading jewellery industries worldwide.
The exhibition will cover 17,000 square meters with over 400 exhibitors from 15 countries, presenting products in categories such as Fine Jewellery, Gemstones, Lab-Grown Diamonds, Silver, Tools & Equipment, and more. The event will also offer various business-building activities, including marketing and knowledge seminars, workshops, designer showcases, rare gem displays, and The Next Gem Contest 2025, which aims to highlight Thai identity in jewellery design.
Business matching activities, such as the hosted buyer program and networking receptions, will be integral to fostering new business opportunities and strengthening connections within the global jewellery market. JGAB 2025 is set to be a pivotal platform for ASEAN’s jewellery industry to establish strong global partnerships and enhance its presence in international markets.
International News
WGC Gold Market Commentary: Bonds a no go
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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