Page 33 - Bullion World Issue 12 Volume 05 December_2025

Bullion World | Volume 5 | Issue 12 | December 2025

EV components, and solar applications surged, as first-time investors sought clarity. Partnerships
creating pressure on supplies. Regulatory adjustments expanded between bullion players, fintech platforms,
around import duties, TRQ utilisation, and enhanced jewellers, and logistics providers, creating a more
KYC norms added complexity but also encouraged integrated ecosystem. Many businesses hit key
greater formalisation. Retail behaviour shifted notably: milestones-new retail store openings, digital-user
customers gravitated toward smaller-ticket products, growth, cross-border partnerships, and enhanced
digital gold offerings, and systematic accumulation refining capacities.
plans, improving market depth even during price
surges. Looking to 2026, the outlook for precious metals
remains structurally bullish. Anticipated US interest-
Throughout 2025, bullion businesses in both nations rate cuts, continued global geopolitical friction, and
navigated common challenges-volatility, tighter liquidity the steady decline of real yields will support gold
cycles, and rapidly shifting investor sentiment. For prices near record levels. Silver’s industrial-led story
traders, managing margins during fast-moving markets is expected to continue, especially with renewable-
required agility and upgraded risk frameworks. Banks energy expansion and constrained mine supply.
and bullion dealers strengthened their derivative In India, growth will be driven by rising incomes,
strategies, while refiners adopted more technology- deeper digital penetration, and increasing institutional
driven sourcing and purity-assurance mechanisms. participation.
The US saw momentum in ESG-aligned sourcing
and recycled gold initiatives, while India accelerated Key focus areas for 2026 will include operational
hallmarking digitisation, warehouse receipts adoption, efficiency, stronger compliance with ESG and KYC
and blockchain-linked traceability. frameworks, advanced hedging strategies, and
technology adoption across testing, trading, and
Amid challenges came opportunities. The extreme logistics. With disciplined execution, the bullion
spotlight on silver opened new avenues for market- industry is well-positioned to leverage another year of
makers, refiners, and retail platforms. Demand for opportunity and structural long-term growth.
education-led advisory content increased sharply

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