Penang’s Decade-Old Gold Fair Opens With Record Trade Numbers Behind It
Source: Penang Today
Penang’s gold and jewellery trade entered a new chapter this week as the Penang Signature Gold, Gems & Jewellery Fair (PSG) 2026 opened at the Setia SPICE Convention Centre, marking 10 years of growth for Southeast Asia’s premier B2B platform for the sector.
State Tourism and Creative Economy Committee chairman Wong Hon Wai said the fair has grown over a decade of perseverance into an essential network connecting global buyers, manufacturers, and designers, Buletin Mutiara reported. Roughly 80% of Malaysia’s gold and jewellery shipments come from manufacturers and exporters based in Penang, Wong told delegates at the opening ceremony on 21 August.
The numbers back his assertion. Malaysia’s gold and jewellery trade surged 22.5% in 2025 to a record RM22.46 billion. Trade for the first half of 2026 reached RM12.13 billion, representing 10% year-on-year growth. Wong noted the momentum has held despite geopolitical uncertainties and conflicts in the Middle East.
Penang’s role in the industry extends beyond the exhibition floor. According to The Star, Entrepreneur Development and Cooperatives Minister Steven Sim said the state accounts for about 70% of Malaysia’s jewellery manufacturing capacity. Sim, who opened the Malaysia Gold and Jewellery Trade Exhibition (MGJE) 2026 at the same venue earlier this year, proposed positioning Penang as a “Dubai Plus One” destination for international gold buyers.
The proposed Penang Gold Hub is taking shape through a working paper being refined for submission to Penang Chief Minister Chow Kon Yeow. The hub could integrate gold refining, design, manufacturing, retail and storage services under one network, aligned with the state’s “Penang 3.0” agenda to shift from low-cost manufacturing to a value-creation economy.
As noted by The Star, the state government considers the gold and jewellery sector a 200-year-old trade with deep roots in Penang, making it a natural candidate for the proposed hub.
PSG 2026, running from 21 to 23 August, features more than 100 exhibitors from five countries and regions showcasing fine jewellery, gemstones, precious metals, machinery and packaging solutions. The fair is expected to attract over 8,000 trade buyers and host more than 80 business matching sessions.
Alongside the exhibition, the three-day event includes a Glamorous Gold Jewellery Fashion Show, a gala dinner, and industry seminars covering digital growth strategies on platforms such as Xiaohongshu, 3D design technology, and regulatory compliance under AMLA and DCR 2026.
Penang Convention and Exhibition Bureau (PCEB) chief executive officer Ashwin Gunasekeran attended the opening ceremony, alongside Penang Goldsmiths & Jewellers Association (PGJA) president Datuk Ivan Chee, Federation of Goldsmiths and Jewellers Associations of Malaysia (FGJAM) president Pang Ann Puo, and Komtar assemblyman Teh Lai Heng.
The fair positions Penang at the centre of a growing regional gold trade, where international buyers are increasingly seeking alternative trading locations. With a manufacturing base that predates independence and a government push to formalise its role as a hub, the state is banking on PSG’s next decade to cement that status.
