The selling price of 21-karat gold, the most popular grade among consumers in the local market, reached JD94.1 per gram at jewelry stores on Monday, while the buying price stood at JD90.1 per gram.
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According to the General Syndicate of Owners of Trade and Jewelry Shops, the selling prices per gram for 24-karat and 18-karat gold stood at JD108.2 and JD83.6, respectively.
Globally, gold prices climbed to their highest level in more than three months on Monday, supported by a weaker US dollar, as investors turned their attention to upcoming US inflation data and a speech later this week by Federal Reserve Chair Kevin Warsh.
Spot gold rose 0.9% to $4,643.63 per ounce by 06:44 GMT, its highest level since mid-May. Prices gained more than 5% last week.
US gold futures rose 0.4% to $4,699.10 per ounce.
The dollar hovered near its lowest levels in several months amid market turbulence following the US Treasury’s commitment to increase purchases of longer-term bonds. A weaker dollar makes the US dollar-priced precious metal less expensive for holders of other currencies.
Among other precious metals, spot silver rose 0.1% to $69.03 per ounce. Platinum gained 0.5% to $1,887.28, while palladium rose 0.3% to $1,353.34.
