A panel discussion titled Gold & Precious Metals: A Future Outlook, held at NESCO on 10 January 2026, brought together voices from bullion, manufacturing, exchanges and education to assess gold’s trajectory amid global uncertainty. The session was anchored by Ananthanarayanan Subramanian, Editor, The New Jeweller International Media Group, and moderated by Chirag Sheth, Principal Consultant – South Asia Metals Focus, Mumbai.
Panellists included Surendra Mehta, National Secretary, India Bullion and Jewellers Association (IBJA); Shweta Dhanak, Director, Vijay Exports; Ranjith Singh, Head – Business and Product Development, India International Bullion Exchange (IIBX), GIFT City; S. Thirupathi Rajan, Managing Director, Goldsmith Academy Pvt. Ltd.; and Shivanshu Mehta, SVP and Head – Bullion, MCX.
Panellists agreed that gold’s price behaviour has increasingly decoupled from general inflation, reinforcing its position as a store of value. Central bank accumulation, geopolitical uncertainty, currency movements and interest rate cycles continue to provide structural support, even as short-term volatility remains a reality.
Ranjith Singh outlined the progress of IIBX at GIFT City, pointing to greater price transparency, online access for qualified jewellers and manufacturers, and new bar and settlement products, while noting that regulatory refinements are still in progress. From a manufacturing standpoint, Shweta Dhanak said persistently high prices have driven design optimisation, weight rationalisation and technology adoption, even as consumer trust in gold as a long-term asset has strengthened.
The discussion also highlighted the need for preparedness. Shivanshu Mehta underlined the growing importance of MCX futures and options in managing price risk, while S. Thirupathi Rajan stressed structured skill development and certification to keep artisans relevant in a changing market. The session concluded with a clear consensus that gold’s outlook remains firm, but success will depend on transparency, disciplined risk management and the ability to adapt to ongoing volatility.