Political developments cast a shadow over gold prices 21-karat gold reaches 95.60 dinars in Jordan

The selling price of one gram of 21-karat gold, the most in demand among citizens in the local market, recorded about 95.60 dinars on Saturday at jewelry shops, while the buying price reached around 91.20 dinars per gram.

As for the other categories, the selling price of one gram of 24-karat gold reached about 109.70 dinars, while 18-karat gold stood at around 84.80 dinars, according to transactions in local jewelry shops.

In the same context, the head of the General Syndicate of Owners of Jewelry and Goldsmith Shops, Rabhi Allan, stated that the price of the “Rashadi lira,” weighing 7 grams, reached 670 dinars, while the “English lira,” weighing 8 grams, recorded about 765 dinars.

Allan added that supply and demand in the local gold market remain relatively weak, which is a usual pattern during this time of the year due to the seasonal decline in purchasing activity.

He also noted that global gold prices closed their weekly trading session on Friday at $4,710 per ounce, stressing that relative stability continues to dominate the markets.

This stability comes amid investors’ anticipation of any new political or economic developments that could affect the movement of the precious metal, particularly regarding relations between the United States and Iran.

According to market observers, prices are expected to remain within fluctuating ranges in the coming period if no clear indicators emerge of easing or escalating geopolitical tensions.

Experts also believe that gold continues to maintain its attractiveness as a safe-haven asset, despite the current relative calm in trading, as market participants await signals that could push prices either upward or downward more significantly.