Jordan’s gold market is experiencing strong activity driven by continued demand for investment and savings as well as a seasonal increase in purchases of gold jewelry during the summer, holiday period, and social occasions, according to Rabhi Allan, President of the Jordanian Jewelers and Goldsmiths Syndicate.
Speaking to Al Mamlaka on Wednesday, Allan said demand for gold falls into two main categories. The first is investment and savings through the purchase of gold coins, ounces, and bullion bars.
He noted that this demand continues throughout the year as many Jordanians view gold as a safe-haven asset for preserving the value of their savings, reflecting the popular local saying that gold is both “adornment and savings.”
The second category, Allan said, represents the peak season for gold jewelry sales, which typically runs from mid-June through the end of September each year.
He explained that the seasonal surge is fueled by the return of Jordanians living abroad, the start of the summer school and university holidays, and the conclusion of the Tawjihi (General Secondary Education Certificate) examinations.
These factors, he said, contribute to an increase in weddings and other social events, leading to significantly higher demand for both locally made and imported gold jewelry.
Source: Al Mamlaka
