Dr. Moniruz Zaman, Founder of Canada-based precious metals company Bullion Mart, has urged business owners to remain vigilant about potentially unexpected developments in the international gold market in 2027. He emphasized that rather than attempting to predict accurately whether gold prices will rise or fall, businesses should focus on preparing themselves to navigate market uncertainties.
He made these remarks during a special session at the Time & Shine Jewellery Trade Show 2026, held in Toronto on Sunday, November 1. The event was also attended by David Smith, Parliamentary Assistant to Ontario’s Minister of Energy and Mines and Member of Provincial Parliament for Scarborough Centre, and Professor Dora Francisca Edu-Buandoh, Ghana’s High Commissioner to Canada.
The session brought together business owners, entrepreneurs, and industry representatives from the jewellery and precious metals sectors. Discussions covered the potential outlook for the gold market in 2027, risks associated with price fluctuations, gold purity verification, the economic value of recycled gold, and opportunities to expand international trade.
Preparing for Uncertainty in the Gold Market in 2027
During his keynote address, Dr. Moniruz Zaman explained that changes in the global economic and political landscape could create uncertainty in the gold market. However, market movements cannot always be accurately predicted.
He emphasized the message: “Expect the Unexpected in 2027.” In other words, businesses must be prepared for unforeseen developments in the coming year.
According to Dr. Zaman, successful jewellery businesses will be those that can effectively adapt to changing market conditions rather than constantly attempting to forecast gold prices accurately.
He noted that gold prices could rise or fall, but businesses must have strategies in place that allow them to operate successfully under either market condition. 
Effective Inventory Management and the Value of Recycled Gold
Highlighting the importance of inventory management in the jewellery industry, Dr. Zaman explained that broken chains, old jewellery, gold received through customer exchanges, and precious metal remnants generated during jewellery manufacturing should not be considered waste materials.
Instead, these materials represent an important source of working capital for businesses.
He stressed that jewellery business owners should have a clear strategy for determining when to retain such gold, when to sell it, and when to send it for refining and reuse.
The Importance of Gold Purity Verification
Dr. Zaman placed particular emphasis on the importance of verifying gold purity, warning that fraud and inaccurate purity assessments could result in significant financial losses for jewellery businesses.
He explained that even minor differences in purity can lead to substantial financial consequences, particularly in high-value transactions.
In this regard, he highlighted the importance of X-ray-based testing technology, independent laboratory analysis, and the internationally recognized Fire Assay method for determining gold purity.
Five Key Recommendations for Jewellery Business Owners
Dr. Zaman outlined five important areas that jewellery business owners should prioritize:
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Maintaining a clear understanding of the company’s financial position and accounting.
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Implementing proper management of gold inventory.
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Recognizing old and recycled gold as an important source of working capital.
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Ensuring accurate verification of gold purity.
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Educating customers and increasing their awareness of gold quality and purity.
Concluding his remarks, Dr. Moniruz Zaman stated that businesses should not rely solely on forecasts about the direction of the gold market in the coming year. Instead, they should develop strategies that allow them to remain operational and financially resilient whether gold prices increase or decline.
He emphasized that changes in the gold market are inevitable, and building the operational capabilities to respond effectively to those changes is what matters most.
Canada and Ghana Explore Opportunities for Gold Trade Cooperation
During the event, Professor Dora Francisca Edu-Buandoh, Ghana’s High Commissioner to Canada, emphasized the importance of strengthening commercial cooperation between Canada and Ghana in the gold and jewellery sectors.
She noted that there are significant opportunities to transform the existing diplomatic relationship between the two countries into meaningful business partnerships.
In particular, Canadian businesses could collaborate with Ghana in areas such as gold refining, jewellery design and manufacturing, technology exchange, and skills development.
She explained that the next step in advancing these diplomatic initiatives should involve identifying practical investment opportunities, strengthening direct connections between businesses in both countries, and establishing long-term commercial partnerships.
She specifically encouraged jewellery businesses in Ontario to explore opportunities in Ghana’s gold sector, including investment, refining operations, jewellery manufacturing, and technological cooperation.
Professor Dora Francisca Edu-Buandoh also expressed the Ghana High Commission’s willingness to assist Canadian businesses in establishing connections with the Government of Ghana and the Ghana Gold Board.
Ontario Highlights Opportunities in Precious Metals and Mining
David Smith, Parliamentary Assistant to Ontario’s Minister of Energy and Mines and Member of Provincial Parliament for Scarborough Centre, also addressed the gathering.
He highlighted business opportunities in the precious metals and mineral resources sectors, along with relevant policies, licensing requirements, and regulatory frameworks.
Speakers at the event emphasized the importance of strengthening connections among entrepreneurs in the jewellery and precious metals industries, developing new international business partnerships, and maintaining transparent business practices.
The contributions of Canadian Jeweller Magazine, relevant jewellery industry associations, and Bullion Mart were also acknowledged during the event.