Khaberni - The head of the General Union of Jewellery Trade and Craftsmen Shop Owners, Ribhi Allan, stated that there is a notable demand for gold Liras and ounces for the purposes of savings and investment, where the price of the English Lira reached 655 Dinars and the Rashadi Lira 573 Dinars.
Furthermore, Allan added that the demand for gold jewelry remains weak in the local market, which has resulted in an "almost nonexistent" supply due to the rise in global prices.
He pointed out that the gold market is experiencing fluctuations due to political and economic events, and the announcement of a ceasefire in the Gaza Strip has contributed to the relaxation of the global financial markets.
Allan also noted that trade tensions between the United States and China, along with the exchanged statements between the two, have pushed the market to rise again.
He mentioned that the market is still anticipating economic data from the U.S. Federal Reserve regarding the possibility of reducing interest rates, amid indications of potential quantitative easing operations that could push gold to record new historic levels exceeding $4080 per ounce.
The selling price of 21-karat gold, the most desired by citizens in the local market, reached on Sunday, 82 Dinars per gram for sale purposes from craft shops, against 79 Dinars for buying.
According to the daily bulletin issued by the General Union of Jewellery Trade and Craftsmen Shop Owners, the price per gram of gold for 24, 18, and 14 karats reached 94 Dinars, 72.70 Dinars, and 55.20 Dinars, respectively, for selling purposes from crafting shops.
