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Jewelry Union Advises Jordanians Against Delaying Gold Purchases Amid Price Volatility

Amman—Rabhi Allan, head of the Jewelry Union, has urged Jordanians, particularly those planning weddings, not to delay their gold purchases due to the unpredictable nature of gold prices influenced by ongoing geopolitical instability and uncertain interest rates.

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Speaking on Roya TV’s “Nabd Al Balad,” Allan highlighted that gold prices have surged by approximately USD 600 over the past eight months. He emphasized that current geopolitical events, particularly along the northern front, have led to a recent spike of about USD 30 in gold prices.

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Allan described the Jordanian jewelry sector as being severely impacted by high gold prices and diminished demand. The recent Israeli aggression on Gaza has significantly dampened celebratory activities among Jordanians, further reducing the demand for gold jewelry.

He also noted that the Federal Reserve’s indecision regarding dollar interest rates has contributed to making gold a preferred safe haven for sovereign banks worldwide.

Gold Prices Climb

On Wednesday, local gold prices increased by 30 piasters per gram. The price for 21-carat gold was JD 47.3 for selling and JD 45.3 for buying. Meanwhile, 24-carat gold was priced at JD 54.8 for selling and JD 52.4 for buying, and 18-carat gold sold at JD 42.3 and bought at JD 38.8.

Globally, spot gold prices rose to USD 2,356.17 per ounce on Wednesday.

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Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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