Head of the Jordanian Jewelry and Goldsmiths Syndicate, Rabhi Allan, said that gold has surpassed $5,410 per ounce, noting that the increase was expected amid rapid political developments and the ongoing U.S.–Israeli–Iranian war, as well as uncertainty over its duration. In remarks to local media, Allan pointed to rising oil prices due to the potential closure of strategic waterways such as the Bab al-Mandab and the Strait of Hormuz, warning of possible impacts on global trade. He added that expectations indicate gold prices may continue to rise if current conditions persist. Locally, Allan said Jordanian consumers are closely monitoring global gold prices and their reflection on domestic rates. He confirmed that gold is available in the local market for buying and selling in any requested or offered quantities, but noted that demand currently exceeds supply for hedging purposes. He also stated that there is no fixed price for gold liras due to the rapid fluctuations in the market.
Head of the Jordanian Jewelry and Goldsmiths Syndicate, Rabhi Allan, said that gold has surpassed $5,410 per ounce, noting that the increase was expected amid rapid political developments and the ongoing U.S.–Israeli–Iranian war, as well as uncertainty over its duration. In remarks to local media, Allan pointed to rising oil prices due to the potential closure of strategic waterways such as the Bab al-Mandab and the Strait of Hormuz, warning of possible impacts on global trade. He added that expectations indicate gold prices may continue to rise if current conditions persist. Locally, Allan said Jordanian consumers are closely monitoring global gold prices and their reflection on domestic rates. He confirmed that gold is available in the local market for buying and selling in any requested or offered quantities, but noted that demand currently exceeds supply for hedging purposes. He also stated that there is no fixed price for gold liras due to the rapid fluctuations in the market.
Head of the Jordanian Jewelry and Goldsmiths Syndicate, Rabhi Allan, said that gold has surpassed $5,410 per ounce, noting that the increase was expected amid rapid political developments and the ongoing U.S.–Israeli–Iranian war, as well as uncertainty over its duration. In remarks to local media, Allan pointed to rising oil prices due to the potential closure of strategic waterways such as the Bab al-Mandab and the Strait of Hormuz, warning of possible impacts on global trade. He added that expectations indicate gold prices may continue to rise if current conditions persist. Locally, Allan said Jordanian consumers are closely monitoring global gold prices and their reflection on domestic rates. He confirmed that gold is available in the local market for buying and selling in any requested or offered quantities, but noted that demand currently exceeds supply for hedging purposes. He also stated that there is no fixed price for gold liras due to the rapid fluctuations in the market.
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Jewelry Syndicate Head: “Hedging” Fuels Local Demand; No Fixed Price for Gold Liras
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