International News
SICIS Jewels launches signature micromosaic jewellery collection at maison House of Rose
A breathtaking fusion of ancient Roman artistry and modern luxury has arrived in India. SICIS Jewels, the esteemed Italian house revered for its mastery of micromosaic, officially launched its high jewellery collection in Mumbai, hosted by the distinguished House of Rose at its iconic Ballard Estate location.
This isn’t merely a jewellery exhibition; it’s a presentation of wearable masterpieces. The showcase unveiled an exclusive range of high jewellery, fine jewellery, and exquisite timepieces. Every single piece is a testament to meticulous handcraftsmanship, brought to life by SICIS’s master mosaicists. They flawlessly weave together time-honored techniques, unparalleled precision, and a bold, contemporary aesthetic.
The foundation for this significant debut was laid with the creation of The SICIS Bar within The House of Rose—an intimate salon graced by a stunning, bespoke SICIS mosaic backdrop. This existing artistic connection provided the perfect platform for the natural evolution into SICIS’s first-ever jewellery presentation on Indian soil. While their jewellery is new to the market, SICIS is no stranger to India, having previously executed large-scale architectural and interior mosaic installations across the country.
During the launch, Gioia Placuzzi, Creative Director of SICIS, and Biren Vaidya, Managing Director of The House of Rose, emphasized their unified vision. Placuzzi saw India as a sophisticated market poised to embrace the intricate, labor-intensive micromosaic craft. Vaidya highlighted that this collaboration introduces a genuine, elevated art form to Indian collectors—a clientele increasingly seeking pieces valued for their unique creativity and intellectual property beyond just their material worth.
The essence of a SICIS jewel lies in its history. Rooted in a 2,000-year-old Roman tradition, these pieces are constructed from thousands of miniature, hand-cut glass fragments (tesserae). These minuscule elements are painstakingly fused with precious stones, resulting in sculptural, painterly works, often taking their vibrant inspiration from the natural world. The commitment to preservation of technique, material integrity, and artistic heritage is absolute, with every jewel meticulously created in Italy.
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.Â
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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