International News
WGC Projects Uncertain H2 for Gold Amid Economic, Geopolitical, and Policy Shifts
After a record-breaking first half in 2025, gold faces mixed prospects driven by inflation trends, interest rate moves, and global risk factors
Gold emerged as the top-performing major asset class in the first half of 2025, posting a remarkable 26% gain in US dollar terms, according to the World Gold Council’s (WGC) Gold Mid-Year Outlook 2025. The surge was supported by a weaker US dollar, stable interest rates, and rising geopolitical tensions, which fuelled strong investment demand through ETFs, over-the-counter (OTC) markets, and global exchanges. Central banks also continued to add gold to their reserves, further boosting momentum.
Looking ahead, WGC’s Gold Valuation Framework outlines three potential scenarios for the remainder of the year:
- Base Case: Gold remains largely range-bound with a slight upside of 0–5%, supported by cautious rate cuts and lingering macroeconomic uncertainty.
- Bull Case: A deteriorating economic environment—such as stagflation or recession risks—could drive gold up another 10–15% as investors increase allocations to safe-haven assets.
- Bear Case: If geopolitical tensions ease and global economic growth strengthens, gold prices could decline 12–17%, pressured by rising yields, a stronger US dollar, and reduced investor hedging.
The first half of 2025 also saw gold set 26 new all-time highs, with daily trading volumes hitting a record $329 billion. Global gold ETF holdings rose sharply by 41%, reaching $383 billion. However, WGC cautioned that higher gold prices may be starting to weigh on consumer demand and could lead to increased gold recycling.
The Council noted that while gold’s underlying fundamentals remain strong, its trajectory in the second half will depend on the complex interplay of global trade shifts, inflation developments, and central bank policy actions.
International News
AGTA appeals US Government to Scrap 10% Import Tariff on Gemstones
Trade body seeks exemption for coloured gemstones under new temporary tariff regime, with potential implications for diamonds.
The American Gem Trade Association (AGTA) has formally appealed to the US government to remove the newly imposed 10% global import tariff on gemstones, and potentially diamonds, warning of its impact on the trade.
The tariff was announced on February 20 after the US Supreme Court struck down President Donald Trump’s reciprocal tariffs issued under the International Emergency Economic Powers Act (IEEPA). In response, the administration introduced a temporary 10% import surcharge under Section 122 of the Trade Act of 1974. The measure will remain in effect for 150 days unless Congress votes to extend it, though further tariff mechanisms have not been ruled out.
AGTA has submitted a formal request to the Office of the United States Trade Representative (USTR), urging that precious and semiprecious coloured gemstones be added to the exception list under Annex I or Annex II. The association argued that these stones are not mined domestically in the US and therefore should qualify for exemption.
Previously, AGTA’s lobbying efforts contributed to diamonds and gemstones being included in Annex III — a list of products eligible for potential exemption from duties for “aligned” countries. This had placed Indian diamonds and gemstones on track for relief following a prospective US-India trade agreement. However, it remains unclear whether Annex III provisions apply under the new tariff framework that recently took effect.
If the across-the-board exemption request is denied, AGTA has asked the USTR to confirm whether Annex III remains a viable pathway for country-specific tariff relief on coloured gemstones.
While the current petition focuses on coloured gemstones, AGTA noted that trade experts believe any exemption granted in this category could effectively extend to diamonds, as seen in past trade agreements such as the US–European Union deal.
“We will continue to work tirelessly toward eliminating tariffs on gemstone imports into the US. We remain fully committed to this effort — giving up is not an option,” said AGTA President Bruce Bridges and CEO John Ford.
#ViRosh Ki Shaadi: Rashmika Mandanna & Vijay Deverakonda Celebrate Love with Temple Gold & Timeless Tradition
Outstanding gold-backed loans surge by 128% from a year earlier
Indriya, Aditya Birla Jewellery, crosses 50 Stores Nationwide
IIBS-11: Navigating the ‘New Gold Rush’ in a fragmenting global economy
Oroarezzo 2026, with Italian Exhibition Group, Manufacturing Explores New Markets
#ViRosh Ki Shaadi: Rashmika Mandanna & Vijay Deverakonda Celebrate Love with Temple Gold & Timeless Tradition
-
National News4 days agoIIBS-11: Navigating the ‘New Gold Rush’ in a fragmenting global economy
-
International News4 days agoOroarezzo 2026, with Italian Exhibition Group, Manufacturing Explores New Markets
-
GlamBuzz3 hours ago#ViRosh Ki Shaadi: Rashmika Mandanna & Vijay Deverakonda Celebrate Love with Temple Gold & Timeless Tradition
-
International News4 days agoGemfields nets $53m in Bangkok ruby auction
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.