Gold Prices Fluctuate Amid Public Attention Gold Prices Fall Thursday Under Pressure from a Stronger Dollar

After gold prices reached record highs that shocked Jordanians in recent days, local markets saw a noticeable decline on Thursday. The selling price of one gram of 21-carat gold, the most sought-after by citizens, reached 104.9 dinars at jewelry shops, compared to 100 dinars for purchases.

According to the bulletin issued by the General Association of Jewelry and Gold Trade, the selling prices per gram for 24, 18, and 14-carat gold at jewelry shops were 119.8 dinars, 93 dinars, and 72.7 dinars, respectively.

Dollar Pressure Gold prices fell on Thursday under pressure from the rising dollar, while increasing oil prices renewed inflation concerns and dampened hopes of near-term interest rate cuts. As of 01:03 GMT, spot gold fell 0.2% to $5,165.73 per ounce, while U.S. April gold futures dropped 0.2% to $5,171.40.

The dollar rose 0.2%, making dollar-denominated commodities such as gold more expensive for holders of other currencies. Iran warned that the world should prepare for oil prices to reach $200 per barrel after its forces attacked commercial ships, while the International Energy Agency recommended releasing large strategic reserves to ease one of the worst oil shocks since the 1970s. Oil prices surged at the start of trading, adding inflationary pressures amid limited Gulf supplies due to the U.S.-Israeli conflict with Iran.