Price of gold in Jordan reaches new level

Jordan

Published: 2020-07-27 14:13

Last Updated: 2020-07-27 14:54


Price of gold in Jordan reaches new level
Price of gold in Jordan reaches new level

The price of gold in Jordan rose once more on Monday.

The sale price of one gram of 21-carat gold, the most popular choice of carat in Jordan, is now JD 39, compared to JD 38.50 two days ago.

The price of one gram of 24-carat gold is JD 45.70 and a gram of 18-carat gold stands at JD 34.60.

Internationally, the price of gold has become exceptionally high in the Asian markets in light of the coronavirus pandemic, as well as the geopolitical tension between China and the United States.

Osama Imseeh, from the General Association for Owners of Jewellery Shops, said in a statement to Roya on Monday, that investors’ fears and the decline of the dollar value have led to the increase in the price of gold.

Imseeh also said Jordanians have been selling their own gold to shops rather than buying new gold, but warned people of dealing with shops offering discounts.

The Jordanian sale of gold was significant last year, while the level of purchasing was weak, Imseeh said. He said both men and women buy gold and keep it for times in need, just like all the central banks in the world, especially in Jordan.

He said gold prices are not expected to increase once more in the upcoming period, adding it is still hard to predict prices considering the tense unclear relations between China and the United States.

There are 850 gold merchants and goldsmiths throughout the Kingdom, who together have a minimum of JD 5 billion worth of gold.