jordan pulse -

Ribhi Allan, head of the General Syndicate of Owners of Jewelry and Gold Shops, revealed that the local gold market witnessed a noticeable price increase over the past week, with the price per gram rising by approximately 6 dinars, coinciding with a rally in global gold prices.
​Allan noted that sales activity in the local market remains solid, particularly for jewelry associated with weddings and engagements. He pointed out that this segment currently accounts for the primary share of market activity amid an increasing number of weddings and social occasions during the current period, according to Al-Rai.
​He highlighted that demand for gold coins (Liras) and ounces remains at moderate levels, as citizens and investors continue to monitor price movements. He explained that rising prices do not necessarily stop purchases, but rather prompt some buyers to reorder their priorities between gold jewelry and investment gold. He anticipated that demand for jewelry will improve in the upcoming period with the continuation of the wedding and event season in the Kingdom, which could support sales in jewelry shops, noting that the nature of demand differs between gold used for adornment and gold intended for savings and investment.
​On the global level, Allan explained that gold closed trading at the end of last week at approximately $4,340 per ounce, recording a clear gain over the week.
​He attributed the rise to developments related to the regional situation, particularly expectations regarding the full reopening of the Strait of Hormuz and the flow of oil and natural gas to global markets, which contributed to an energy price decline of over 11% in recent days.
​Allan affirmed that the local market will remain tied to international price movements, though the wedding and event season could serve as a supporting factor for jewelry demand in the period ahead.
​The syndicate warned prospective gold buyers against relying on untrustworthy offers, calling on them to contact the syndicate's committee to verify the invoice, weight, karat, and craftsmanship fees. It also stressed the necessity of purchasing from licensed commercial shops and obtaining an official stamped invoice to protect consumer rights.
​According to statistical data issued by the Jordan Chamber of Industry, the gold and jewelry sector in the Kingdom comprises approximately 250 factories and workshops specializing in goldsmithing and jewelry design, providing nearly 10,000 job opportunities.
​Source: Rum Online News Agency