International News
Precious Metals Under Pressure Amid Ceasefire Collapse and Dollar Strength AUGMONT BULLION REPORT
Increased Inflation Risks, Further Central Bank Interest Rate Increases — Both Of Negative Factors For Precious Metals
Gold and silver prices weakened at the start of the week as the U.S.-Iran ceasefire, which markets had welcomed, began to unravel. The U.S. seized an Iranian cargo ship attempting to break through its blockade, prompting Iran to threaten retaliation. This raised serious doubts about whether the two-day ceasefire could hold at all.
Specifically, President Trump confirmed that the U.S. Navy intercepted an Iranian-flagged vessel in the Gulf of Oman after it ignored stop orders near the Strait of Hormuz. Iran, in turn, targeted ships in the region and reasserted control over the Strait, arguing the U.S. blockade violated ceasefire terms. While Trump signaled room for diplomatic progress ahead of talks in Pakistan, Iran ruled out participating in a second negotiation round before the Tuesday deadline.
The extended conflict has disrupted energy supply significantly, increasing inflation risks and raising expectations of further central bank interest rate increases — both of which are negative factors for precious metals.
The U.S. dollar strengthened to a one-week high against major currencies on Monday, though gains faded as U.S.-Iran tensions resurfaced and Middle East peace prospects dimmed, prompting investors to seek safer assets.
On monetary policy, market expectations for a U.S. Federal Reserve rate cut by year-end dropped sharply to 21%, from 40% just weeks earlier. This shift followed stronger-than-expected inflation data and a resilient labor market, pushing 10-year Treasury yields past 4.5%. The Fed kept rates steady at 3.50–3.75%, with virtually no probability of a cut in April.
The Indian rupee stabilised near 93 per dollar after briefly touching a three-week low. The Reserve Bank of India intervened by directing lenders to reduce large arbitrage positions in onshore and offshore markets, which lowered dollar demand and helped stabilise the currency.
Global gold ETFs attracted 21 tonnes of net inflows in the first few days of April alone — a level the World Gold Council described as broad-based and regionally diverse. Notably, these inflows occurred during a stable market environment, not a crisis, indicating a deliberate shift toward physical gold-backed funds at the portfolio level.
Chinese gold ETFs attracted $8.1 billion year-to-date in net inflows, a stark contrast to over $2.0 billion in outflows from U.S. gold ETFs over the same period. Indian gold ETFs also drew continued interest, supported by seasonal buying ahead of Akshaya Tritiya.
Central bank gold buying remained strong in Q1 2026, with emerging market nations — primarily China and India — collectively adding over 200 tonnes year-to-date, according to World Gold Council estimates. Previously inactive buyers such as Malaysia and South Korea resumed gold reserve accumulation, signaling broader institutional confidence in gold. However, the Bank of Russia was an outlier, recording 9 tonnes in sales during January.
China’s silver imports reached 206.76 tonnes in the first two months of 2026 — the highest in eight years — tightening global supply and supporting prices. The Silver Institute and Metals Focus have flagged a sixth consecutive year of structural supply deficit, with 762 million troy ounces drawn from existing stockpiles since 2021, increasing the risk of a physical supply squeeze.
However, industrial demand for silver in 2026 is forecast to decline 3% to 640 million ounces, partly offsetting supply concerns. Additionally, India’s temporary halt on silver imports raised concerns about near-term domestic supply disruptions.
Gold continues to face resistance at $4,850 (~Rs. 1,55,000). A sustained move above this level could push prices toward $5,000 (~Rs. 1,60,000). Key support remains at $4,600 (~Rs. 1,51,000).
Silver has met its prior target of $82 (~Rs. 2,58,000). Prices are expected to consolidate in the near term before advancing toward $84 (~Rs. 2,65,000) and subsequently $90 (~Rs. 2,80,000).
International News
Singapore Launches Diamond & Jewellery Week As Record-Breaking SIJE Ushers In A New Era For The Region’s Jewellery Industry
The Largest SIJE In The Show’s 21-Year History Anchors The Inaugural Singapore Diamond & Jewellery Week, Alongside The Return Of The World Diamond Congress After 38 Years and Major Industry Announcements Shaping The Jewellery Trade.
Singapore today reinforces its standing as the region’s foremost jewellery and luxury trade destination with the opening of the Singapore International Jewellery Expo (SIJE) 2026, the largest edition in the exhibition’s 21-year history, and the launch of the inaugural Singapore Diamond & Jewellery Week (SDJW).



The Official Opening Ceremony this morning was graced by Guest-of-Honour Mr Alvin Tan, Minister of State for the Ministry of Trade and Industry and the Ministry of National Development, underscoring the strategic importance of the jewellery and diamond industry to Singapore’s international trade and luxury retail ecosystem.

Held from 9 to 12 July 2026 across three exhibition halls at the Sands Expo & Convention Centre, Marina Bay Sands, SIJE 2026 brings together more than 460 exhibitors and brands from 26 countries across more than 10,000 square metres of exhibition space. Over the four day exhibition, SIJE 2026 is expected to welcome approximately 18,000 trade buyers and public visitors, reaffirming Singapore’s enduring appeal as a trusted gateway for the international jewellery, gemstone, diamond and luxury watch industries.


This year’s edition marks a defining milestone in SIJE’s evolution. For the first time, SIJE serves as one of the two cornerstone events of the inaugural Singapore Diamond & Jewellery Week (SDJW), alongside the 41st World Diamond Congress, which returns to Singapore from 12 to 15 July 2026 after an absence of 38 years, having last been held here in 1988.
Together, SIJE 2026 and the 41st World Diamond Congress establish Singapore as the meeting point for the global jewellery and diamond industry, bringing together international jewellers, gemstone dealers, luxury watchmakers, diamond manufacturers, traders, retailers, designers, collectors, investors and industry leaders for a week of business, innovation, craftsmanship and international collaboration.
The 21st edition of the show this year is also marked by a refreshed brand identity, featuring a refreshed logo and an updated visual identity, including brand colours and contemporary imagery, reflecting SIJE’s commitment to creating an inviting and discovery-driven experience for visitors and exhibitors alike.
Largest edition in the history of SIJE
Building on the success of its landmark 20th-anniversary edition in 2025, SIJE 2026 enters a new chapter as its largest and most internationally diverse exhibition to date.
Despite continuing economic uncertainty and geopolitical headwinds affecting global trade, SIJE has attracted strong international participation, reflecting sustained confidence in Singapore as a stable, trusted and business-friendly hub for the jewellery, gemstone and luxury watch industries.
Major international contingents from Italy, Hong Kong and Uzbekistan, alongside exhibitors from across Asia, Europe and beyond, reinforce Singapore’s growing importance as the gateway connecting international brands with Southeast Asia’s expanding luxury market. The Italian Pavilion is presented by the Italian Trade Agency (ITA) and supported by Vicenzaoro.
Visitors to SIJE 2026 can expect an exceptional showcase of:
• Fine jewellery by internationally renowned brands
• Rare diamonds and coloured gemstones
• Gold and precious metal creations
• Contemporary and bespoke jewellery
• Luxury mechanical and contemporary watches
• Jewellery manufacturing technology and machinery
• International product launches and exclusive regional debuts
Singapore Diamond & Jewellery Week Ushers in a New International Recognition This year’s exhibition also marks the launch of the inaugural Singapore Diamond & Jewellery Week (SDJW), a week-long celebration of jewellery, diamonds, craftsmanship, luxury retail and international trade taking place from 9 to 15 July 2026.
Anchored by SIJE 2026 and the 41st World Diamond Congress, SDJW extends beyond the exhibition halls through island-wide retail experiences, jewellery showcases, industry networking events and consumer promotions, creating a unified platform that brings together both trade professionals and consumers.
The introduction of SDJW represents a significant milestone in Singapore’s ambitions to strengthen its position as the region’s premier jewellery and diamond hub, while fostering greater international collaboration across the jewellery value chain.
World Diamond Congress Returns to Singapore After 38 Years
The return of the 41st World Diamond Congress to Singapore marks one of the industry’s most significant international events. Widely regarded as the diamond industry’s premier global forum, the biennial Congress convenes senior leaders from across the international diamond value chain, including mining companies, manufacturers, diamond bourses, traders, retailers and industry associations.
Its return to Singapore after 38 years highlights the Republic’s continued relevance as a trusted international centre for high-value trade and reflects growing confidence in Asia’s role within the global diamond economy.
Together with SIJE 2026, the Congress reinforces Singapore’s role as a platform where business, policy, innovation and international partnerships converge to shape the future of the jewellery and diamond industries.
Industry Comes Together to Strengthen Consumer Confidence
At the Official Opening Ceremony, the Consumers Association of Singapore (CASE), Singapore Jewellers’ Association (SJA), and Singapore Pawnbrokers Association (SPA) jointly issued a consumer announcement and advisory regarding the ambiguous use of the term “gold-wrapped” jewellery, also marketed as Gold-Wrapped Silver (GWS) – reflecting the
industry’s collective commitment to transparency, consumer protection, and high industry standards.
The announcement is particularly timely against a backdrop of record-high global gold prices and increasing consumer interest in more affordable alternatives. Greater transparency and clearer product descriptions are essential to safeguarding consumer confidence, protecting product integrity and reinforcing Singapore’s reputation as a trusted destination for jewellery purchases among both local consumers and international visitors.
The joint initiative sent a strong message to exhibitors, jewellers, buyers, foreign visitors, and all stakeholders at SIJE that Singapore remains committed to upholding the highest standards of integrity in its jewellery industry.
Strategic Collaboration to Further Internationalise SIJE
Another key highlight at this year’s Official Opening Ceremony is the signing of a Memorandum of Understanding (MoU) between the Singapore Jewellers’ Association (SJA) and IEG Asia Pte Ltd, witnessed by Guest-of-Honour Minister of State Mr Alvin Tan.
The strategic collaboration reflects a shared commitment to further internationalise SIJE, strengthen international industry partnerships, and elevate Singapore’s standing as the region’s leading jewellery exhibition and business platform.
By bringing together the expertise and global networks of both organisations, the collaboration aims to enhance SIJE’s international profile while creating new opportunities for trade, investment and cross-border industry collaboration.
A Rare Historical Treasure Makes Its SIJE Debut
Adding a unique historical dimension to this year’s exhibition is the display of the replica of the Crown of Carlo di Borbone, showcased at the Diamond Exchange of Singapore (DES) Pavilion.
Originally created for Charles III of Spain, who was also King of Naples and Sicily, the original crown was widely regarded as one of Europe’s most magnificent royal jewels before it was lost centuries ago. The meticulously reconstructed replica, created using the original 1732 design drawings preserved in the Naples State Archives, represents a remarkable achievement in historical craftsmanship and restoration.
The crown is closely associated with the legendary “Perfect Colour of Violet” diamond – a celebrated 41.5-carat violet diamond once considered among the most extraordinary gemstones of its time.
Its presence at SIJE 2026 offers visitors a rare opportunity to appreciate an important piece of European royal jewellery history while underscoring the exhibition’s growing reputation for presenting exceptional and culturally significant showcases alongside contemporary luxury collections.
A Journey Through the World of Fine Jewellery, Luxury Watches and Craftsmanship
Beyond showcasing exceptional jewellery, SIJE 2026 offers visitors a comprehensive journey through the world of fine jewellery, luxury watches and the artistry behind their creation. Complementing the exhibition experience is the ÁTIPICO Bar Lounge in Hall C, offering handcrafted beverages and light bites in a relaxed environment for visitors throughout the four day show.
This year’s exhibition presents a carefully curated collection spanning three key pillars of the industry:
1. Jewellery
From rare gemstones and natural diamonds to bespoke high jewellery and contemporary creations, SIJE 2026 showcases exceptional craftsmanship from internationally renowned jewellery houses, designers and manufacturers. Visitors can discover everything from timeless classics and bridal jewellery to statement pieces featuring coloured gemstones, pearls and precious metals.
2. Luxury Watches
Complementing the jewellery showcase is an impressive collection of luxury mechanical watches, heritage timepieces, contemporary watchmaking and independent watch brands, reflecting the enduring appeal of horology among collectors and enthusiasts alike.
Jewellery Manufacturing & Machinery
Recognising the importance of innovation throughout the jewellery value chain, SIJE 2026 also features the latest jewellery manufacturing technology, precision equipment and production solutions that continue to advance modern craftsmanship and manufacturing excellence.
Together, these curated showcases reflect the breadth and diversity of today’s jewellery industry – from traditional artistry and heritage craftsmanship to contemporary design, innovation and manufacturing technologies.
Connecting Global Buyers Through BuyerX Programme
Further reinforcing SIJE’s position as an international business platform is the BuyerX Programme, the exhibition’s dedicated hosted buyer initiative designed to facilitate high-value business matching between international buyers and exhibitors.
Through curated business meetings and a digital business-matching platform, BuyerX Programme connects qualified trade buyers with leading jewellery brands and manufacturers, creating opportunities for new partnerships, regional expansion, and cross-border collaboration across Singapore, Southeast Asia, and the wider Asia-Pacific region.
The programme reflects SIJE’s growing importance not only as a showcase of exceptional jewellery, but also as a strategic marketplace where meaningful commercial relationships are established, and new business opportunities are created.
The two pillars – SIJE 2026 and the 41st World Diamond Congress – mark a defining moment for both the exhibition and Singapore’s jewellery industry. Together, these events create an unparalleled platform for international business, innovation and collaboration, while reinforcing our commitment to elevating SIJE’s global profile and strengthening Singapore’s position as the region’s premier jewellery hub.
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