Mongolia is a developing country located between Russia and China. The country’s economy is based on the mining. The unwrought gold is one of main export commodities of Mongolia. This research paper tried to examine the possibilities for establishing an export oriented gold jewellery industry in Mongolia. Being on the position that has potential gold deposits & domestic production, traditional jewellery craftsmanship and other opportunities, Mongolia may develop an export oriented gold jewellery industry. The paper is divided into six chapters. Chapter 1 provides an introduction of the thesis including why this topic needs to be considered. Chapter 2 shows the literature review of Mongolia’s situation related to gold production and industrial aspect. Chapter 3 presents brief overview of Mongolia’s economy, the country’s export of unwrought gold and analysis of gold jewellery industrial chain consists of gold mining, refining, gold jewellery design, fabrication, marketing and distribution. Chapter 4 discusses the overview of world gold jewellery market that attracts the developing countries, Thailand and Italy’s gold jewellery industry, their experiences and facing challenges and SWOT analysis of Mongolia’s gold jewellery industry. Chapter 5 examines some of general and specific factors of Mongolia that will affect the development of the country’s gold jewellery industry. Chapter 6 is conclusion on Mongolia’s position and potential opportunity in terms of gold jewellery industry. The necessary measures are recommended for establishing an export oriented gold jewellery industry.