AMMAN — Jordan’s gold market is witnessing robust demand as the summer wedding season reaches its peak, with consumers increasingly purchasing bridal jewelry, ornaments, and investment gold, according to the Jordanian Jewellers Association.
The association’s president, Rabhi Allan, said the local market has experienced solid trading activity, driven by increased purchases of bridal sets, gold gifts, and locally produced as well as imported jewelry, contributing to stronger sales across jewelry stores.
Allan noted that the summer months traditionally represent one of the busiest periods for the sector, as engagement and wedding celebrations boost demand for gold products throughout the Kingdom.
Geopolitical Tensions Support Gold Prices
He said global gold prices closed at $4,017 per ounce on Friday, influenced by escalating geopolitical tensions between the United States and Iran, particularly uncertainty surrounding the potential opening or closure of the Strait of Hormuz.
According to Allan, gold has traded within a range of $4,000 to $4,100 per ounce in recent weeks, with modest fluctuations as investors monitor developments in the Gulf and their potential impact on global markets.
He added that demand for gold sovereigns and bullion bars remains strong, reflecting continued interest in gold as a vehicle for investment and savings amid heightened market uncertainty.
Buyers Urged to Purchase from Licensed Jewelers
The association advised consumers to avoid unreliable offers and verify invoices, weight, purity, and manufacturing charges before making purchases.
It also urged buyers to purchase only from licensed jewelry retailers and to obtain an official stamped invoice to protect their rights.
According to figures from the Jordan Chamber of Industry, Jordan’s gold and jewelry sector includes around 250 factories and workshops specializing in goldsmithing and jewelry design, providing employment for approximately 10,000 people.
