jordan pulse -

The price of a gram of 21-karat gold in the local market dropped on Saturday by 3 dinars, compared to the latest pricing issued by the General Union of Owners of Gold and Jewelry Trade and Craft Shops.
The gram of 21-karat gold, the most in-demand in the local market, registered 79.30 dinars for sale by jewelry shops, against 75.40 dinars for purchase, while the price of a gram of 24-karat gold reached approximately 91.10 dinars, and 18-karat gold reached 70.20 dinars.
Globally, spot gold prices dropped on Friday by 3.5% to $3,880.97 per ounce, recording their lowest levels since October 2025, while silver dropped 6.5% to $49 per ounce, platinum declined 4.2% to $1,425.02, and palladium dropped 3% to $976.08.
The decline in precious metals came amid falling technology stocks, concerns that investments in artificial intelligence will not yield sufficient returns, expectations that interest rates will remain high for a longer period, and a decline in demand in Asian markets.
Gold has lost about 30% of its value since recording a record level of $5,595 per ounce in January, while silver recorded an all-time high of $122 per ounce during the same month.
Analysts pointed out that the sharp decline in technology stocks may have led to forced selling of safe-haven assets like gold and margin call requests, expecting precious metal prices to rebound soon. Conversely, central bank demand for gold tends to rise when prices below $4,000 per ounce.
Silver, platinum, and palladium face additional pressures due to the dependence of their demand on industrial uses, particularly the automotive sector, alongside a decline in silver demand in industries and jewelry. HSBC Bank projected that the average price of silver will reach $64 per ounce in 2027, compared to its average projection of $71 per ounce for the current year.
Rum