Khaberni - Rabhi Allan, the head of the Goldsmiths and Gold Trade Association, disclosed that the buying and selling movement is experiencing a clear weakness during this period, both in terms of demand and supply, coinciding with citizens' preparations for the blessed month of Ramadan.
In a statement to Al Rai newspaper, Allan clarified that it is customary for the first half of the holy month to see a decline in demand, as families are busy with preparations and related commitments.
He noted that the local market closed on Friday evening, at the end of last week, at a level of 5042 dollars per ounce, affected by the global prices which are still moving within an anticipatory range.
Globally, the markets saw noticeable declines on Thursday due to profit-taking operations, in addition to political developments related to Iran, amid indicators of a possible political agreement between it and the United States, which reflected on the trading pace.
During Friday’s trading, the price stabilized at a level considered within the normal range of gold movements over the past two weeks, amidst continuing conditions of anticipation linked to political and economic data.
The association warned those interested in buying gold against relying on unreliable offers, urging them to connect with the association's committee to verify the invoice, weight, carat, and fees, and emphasized the necessity of purchasing from licensed commercial shops and requesting an official stamped invoice, to preserve consumer rights.
According to statistical data from the Jordan Chamber of Industry, the gold and jewelry sector in the kingdom includes about 250 factories and workshops specialized in goldsmithing and jewelry design, providing nearly 10,000 job opportunities.
