Gold prices climbed on Tuesday as escalating tensions between Israel and Iran boosted demand for the safe-haven asset. Investors are also closely watching the U.S. Federal Reserve’s policy meeting this week. Gold traditionally serves as a refuge during times of geopolitical and economic uncertainty.

The uptick in gold prices follows reports of an Israeli strike on Iran’s state broadcaster and indications from the head of the U.N. nuclear watchdog of extensive damage to Iran’s largest uranium enrichment plant on Monday. These developments have heightened concerns in the Middle East, leading investors to seek the perceived security of gold.

Beyond geopolitical events, markets are also anticipating several central bank monetary policy decisions this week, with the Federal Reserve’s meeting drawing the most attention. The U.S. central bank is broadly expected to keep interest rates unchanged at the conclusion of its policy meeting on Wednesday.

Further underscoring gold’s appeal, holdings in the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, increased by 0.15% to 941.93 tonnes on Monday, up from 940.49 tonnes on Friday.

In other precious metals, spot silver saw a modest gain of 0.1% to reach $36.35 per ounce. Conversely, platinum declined by 0.3% to $1,242.03, and palladium eased 0.2% to $1,027.50.

The Israel Diamond Exchange (IDE) has announced the closure of its trading floor and a shift to emergency operations following the outbreak of direct conflict between Israel and Iran. The decision, made in response to escalating security concerns, comes after Israel launched airstrikes on Iranian nuclear and military targets early Friday, prompting missile retaliation from Iran — some of which have struck areas near the IDE in Ramat Gan, just outside Tel Aviv.

In a statement released in Hebrew on Saturday, the IDE confirmed that it would operate in “emergency mode,” suspending regular activities and closing multiple facilities within the exchange complex. Services that are considered non-essential—including the bourse management offices, post office, import and export departments, the diamond controller’s office, maintenance services, restaurants, cafés, and bank branches—will remain shut until further notice.

Access to the IDE complex has also been restricted. Entry is now limited to the Shimshon building only, with all other entrances closed. The Maccabi and Yahalom parking lots, along with the office responsible for issuing bourse access tags, have also been temporarily closed.

The safety deposit room located in the Shimshon building will remain operational, but only until 2 p.m. daily, and solely for the purpose of depositing goods. “We recommend that companies and members transfer their goods to the secure safe room in the Shimshon building for optimal protection,” IDE advised in its statement.

In a separate communication issued on Friday, the exchange cautioned members about the limitations of most insurance policies, noting that damages resulting from war or terrorist activities are typically not covered. Members were urged to review their insurance coverage carefully and explore whether they might qualify for compensation under Israel’s property tax regulations in the event of a loss.

The IDE stressed that it will continue to closely monitor developments in the security situation and will update its guidelines accordingly to ensure the safety of its members and their assets.

Meanwhile, the Home Front Command, responsible for civil protection in Israel, has prohibited all non-essential public gatherings nationwide as missile threats persist. The missile attacks mark a significant escalation in regional tensions, drawing concerns from international observers and impacting critical sectors like Israel’s diamond trade.

The Israel Diamond Exchange is one of the world’s leading centers for diamond trading, and any disruption to its operations has wide-ranging implications for the global diamond supply chain. The current closure highlights the vulnerability of even highly secure economic institutions in times of geopolitical instability.

In a world where values and vision shape the future of luxury, Hari Krishna Exports made a lasting impression at JCK Las Vegas 2025, held from June 6 to 9 at Booth No. 13079, The Venetian Expo, USA. With a booth built using over 70% renewable materials and a showcase of meticulously crafted diamond layouts, the company once again reinforced its firm commitment to sustainability, craftsmanship, and meaningful dialogue in the global diamond industry.

A Booth That Speaks Purpose and Precision

The company extended its sustainable spirit to visitors through meaningful giveaways as a token of appreciation. Each guest received a sustainable lanyard inspired by the colors of the SDG goals, a custom SDG lapel pin. On top of all that, a tree would be planted in their name, a cherished tradition Hari Krishna Exports carries to every tradeshow worldwide.

Among those who visited the booth were two highly esteemed guests, Mr. Al Cook, CEO of De Beers Group, and Her Excellency Bogolo Joy Kenewendo, Cabinet Minister from the Republic of Botswana. Their presence added weight to a booth that was already drawing attention for its innovative presentation and responsible design approach.

Precision in Every Layout

At the heart of the showcase were diamond layouts, perfectly harmonized sets aligned by shape, size, clarity, and colour. Designed to support jewellery artisans with consistency and ease, these layouts reduce time spent on sorting while maintaining the elegance and balance that high-end consumers deserve. As always, each layout reflects Hari Krishna Exports’ standard of excellence rooted in decades of expertise.

Adding to the immersive experience, Hari Krishna Exports introduced a Mixed Reality concept for the first time at JCK. Using the Apple Vision Pro, clients could view a factory walk through in visual reality simply by scanning a specially designed poster at the booth. This innovative approach brought transparency and traceability to life, offering a glimpse into the precision and responsibility behind every diamond.

Commitment Shared at JCK Talks

During the show, second-generation leader Brijesh Dholakia served as one of the resource persons in the “JCK Talks: Sustainability stage” session. Sharing the stage with other high-level guests, he shared insights on how HK’s manufacturing facilities in Surat have embedded sustainability at its core, from energy-efficient operations to its integration with Tracr and iTraceiT platforms, enabling end-to-end diamond traceability. He also spoke about a hallmark initiative that Hari Krishna Exports brings to every global event it attends: for every visitor in its booth, a tree is planted. This deeply rooted philosophy ensures that every engagement, be it a conversation, inquiry, or transaction, leaves behind not just an impression, but a contribution to the planet.

Redefining Luxury with Responsibility Hari Krishna Exports’ presence at JCK Las Vegas 2025 was not simply about participating in a trade show, it was about leading with purpose. With each diamond layout, each booth detail, and each shared insight, the company continues to set a benchmark in conscious luxury, where beauty is as responsible as it is brilliant.