Latest news with #JordanianJewellersAssociation
Zawya
28-04-2025
- Business
- Zawya
Gold prices soar in Jordan, reshaping investment trends
AMMAN — Gold prices in Jordan have risen "sharply" since the beginning of the year, mirroring international trends pushing the precious metal to record highs, according to industry stakeholders. According to the General Syndicate of Owners of Trade and Jewellery Shops, the price of 21-karat gold, the most popular among Jordanians, has reached JD68 per gramme for selling and JD66 for buying. Meanwhile, prices for 24-karat, 18-karat, and 14-karat gold have climbed to JD78.1, JD60.6, and JD45.9 per gramme, respectively. President of the Jordanian Jewellers Association Rabhi Allan said that the 7-gramme Rashadi gold coin now stands at JD474, while the 8-gramme English gold coin is priced at JD542. He noted that international gold trading closed last Friday at $3,318 per ounce — the highest level on record. Amid the ongoing economic uncertainty, demand for gold coins remains strong, with many Jordanians viewing them as a safe haven investment and a secure method to preserve wealth. Allan noted that Rashadi and English gold coins, in particular, have grown increasingly popular among buyers looking to shield their savings from market volatility. Despite the surge in gold prices, gold coins remain widely available in the local market, and jewellery shop owners are encouraging consumers to consider investing during this period. However, the soaring prices are placing a heavy burden on young couples preparing for marriage, as gold remains a deeply symbolic part of Jordanian wedding traditions, especially in preparing the Mahr, or bridal dowry. Many couples are now revising their wedding budgets, scaling back gold purchases, or even postponing their wedding plans altogether. 'I have always dreamed of a wedding with all the traditions, but with these gold prices, we are being forced to compromise on everything,' said Leen Bakir, who plans to marry later this year. 'Even a simple gold set feels out of reach now.' Jewellers across the Kingdom are witnessing the strain firsthand. "We see more couples trying to negotiate smaller sets," said Salim Samara, a jeweller in Wehdat, noting that many are opting for simpler rings or lower-carat gold options to reduce costs. Sector experts attribute the price hikes to international gold market volatility combined with local inflationary pressures. Traditionally, the wedding season boosts demand for jewellery, but this year, rising prices are dampening purchasing power and changing long-held customs, according to stakeholders. As wedding season approaches its peak, the impact of climbing gold prices extends beyond economics, reshaping an integral part of Jordan's social and cultural fabric. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
27-04-2025
- Business
- Jordan Times
Gold prices soar in Jordan, reshaping wedding traditions, investment trends
Industry stakeholders say that gold prices in Jordan have risen "sharply" since the beginning of the year, mirroring international trends pushing the precious metal to record highs (JT file) AMMAN — Gold prices in Jordan have risen "sharply" since the beginning of the year, mirroring international trends pushing the precious metal to record highs, according to industry stakeholders. According to the General Syndicate of Owners of Trade and Jewellery Shops, the price of 21-karat gold, the most popular among Jordanians, has reached JD68 per gramme for selling and JD66 for buying. Meanwhile, prices for 24-karat, 18-karat, and 14-karat gold have climbed to JD78.1, JD60.6, and JD45.9 per gramme, respectively. President of the Jordanian Jewellers Association Rabhi Allan said that the 7-gramme Rashadi gold coin now stands at JD474, while the 8-gramme English gold coin is priced at JD542. He noted that international gold trading closed last Friday at $3,318 per ounce — the highest level on record. Amid the ongoing economic uncertainty, demand for gold coins remains strong, with many Jordanians viewing them as a safe haven investment and a secure method to preserve wealth. Allan noted that Rashadi and English gold coins, in particular, have grown increasingly popular among buyers looking to shield their savings from market volatility. Despite the surge in gold prices, gold coins remain widely available in the local market, and jewellery shop owners are encouraging consumers to consider investing during this period. However, the soaring prices are placing a heavy burden on young couples preparing for marriage, as gold remains a deeply symbolic part of Jordanian wedding traditions, especially in preparing the Mahr, or bridal dowry. Many couples are now revising their wedding budgets, scaling back gold purchases, or even postponing their wedding plans altogether. 'I have always dreamed of a wedding with all the traditions, but with these gold prices, we are being forced to compromise on everything,' said Leen Bakir, who plans to marry later this year. 'Even a simple gold set feels out of reach now.' Jewellers across the Kingdom are witnessing the strain firsthand. "We see more couples trying to negotiate smaller sets," said Salim Samara, a jeweller in Wehdat, noting that many are opting for simpler rings or lower-carat gold options to reduce costs. Sector experts attribute the price hikes to international gold market volatility combined with local inflationary pressures. Traditionally, the wedding season boosts demand for jewellery, but this year, rising prices are dampening purchasing power and changing long-held customs, according to stakeholders. As wedding season approaches its peak, the impact of climbing gold prices extends beyond economics, reshaping an integral part of Jordan's social and cultural fabric.
Zawya
24-03-2025
- Business
- Zawya
Jordan: Gold price surge shifts consumer trends, investment patterns
AMMAN: Gold prices in Jordan have experienced a significant surge since the start of the year, following global trends that have driven the precious metal to record highs, according to industry stakeholders. President of the Jordanian Jewellers Association Rabhi Allan noted that "gold prices in the local market have risen by 15 per cent in less than three months." The price per ounce increased from $2,638 at the close of 2024 to $3,057 last week, before stabilising at $3,022 on Friday. The sharp rise in prices has begun to affect consumer behaviour in the Kingdom. Allan observed a noticeable decline in demand for gold jewellery, with many consumers opting to delay major purchases. Saleem Mohammad, a jeweller based in Amman, said that while gold traditionally enjoys high demand for weddings and special occasions, many customers are postponing such purchases due to the escalating prices. Mohammad also pointed out a shift in sales patterns, with an increase in the purchase of gold bars and coins. "People are viewing these as a safer investment amid rising prices," he said. The impact of rising prices was also evident during Mother's Day, when many customers sought lighter gold pieces or gold-plated alternatives rather than solid gold, as they looked for more affordable options amidst the price hikes. International media outlets report that Wall Street analysts expect gold prices to continue rising throughout the year. As a result, gold remains a preferred safe-haven asset for investors, with expectations of further price increases in the near term. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
