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Jordan: Gold prices surge amid international tensions, inflation pressures
AMMAN — Gold is once again dominating international asset rankings, driven by rising geopolitical tensions and persistent inflationary pressures.
In Jordan, where gold is both an economic asset and a cultural symbol, the international surge is resonating across local markets, according to stakeholders.
As of June 16, 2025, the price of 24-carat gold in the Kingdom reached JD79.3 per gramme for selling and JD76.9 for buying, according to the General Syndicate for Owners of Jewellery. The most popular type among Jordanians, 21-carat gold, was priced at JD69.2 for selling and JD66.7 for buying.
Eighteen-carat gold recorded a selling price of JD61.4 and a buying price of JD56.9, while 14-carat gold stood at JD46.6 and JD42.0, respectively. Traders noted these figures reflect a steady upward trend in prices over the past month.
Jewellers across the Kingdom have also reported a shift in consumer behaviour. 'Some customers are buying now, fearing prices will climb further, but many remain cautious,' said Ahmed Ghannam, a gold merchant in Amman's Sweifieh market. He added that demand typically rises during the wedding season, but this year it has moderated amid uncertainty.
The ongoing escalation between Iran and Israel is among the key global developments driving the price increase, Ghannam noted. Military confrontations and fears of a regional spillover have injected volatility into international markets, spurring investors toward traditional safe havens.
'Gold prices tend to surge when political instability looms,' said economist Waseem Hussein. 'The Iranian–Israeli tensions have amplified fears of a broader regional conflict. In such times, gold becomes more than a commodity; it becomes a form of insurance.'
For local buyers, the moment presents a difficult choice. 'I'm afraid of missing out if prices go even higher,' said Amman resident Suad Jamal. 'But at the same time, gold prices are too high.'
With forecasts from banks like Goldman Sachs projecting gold prices to reach $3,700 per ounce by year's end, both economists and consumers are expected to keep a close eye on the gold market in the months ahead.
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