Gold price fluctuations tied to global politics, economy — syndicate

jewels and gold coins
(File photo: Jordan News)
AMMAN — Head of the Jordan Jewelers Syndicate Rebhi Allan said that the syndicate at times sets three different prices for gold in a single day in the Kingdom because of global political and economic changes, Khaberni reported.اضافة اعلان

The price of gold in Jordan is linked to global gold prices and fluctuates based on the global market. Political situations, notably the Ukrainian-Russian war, play a major role in the rapid price fluctuation globally and in the Kingdom, he said.

The syndicate has set three prices on a single day several times lately and even has the ability to issue four prices, he said. Most recently, on Monday, the price decreased by 60 piasters from Sunday’s price, bringing the price of a gram of 21-carat gold to JD36. Then, gold prices decreased by an additional 30 piasters, bringing the cost of a gram to JD35.70. A third price change, a fluctuation of 50 piasters, brought the price to JD36.2 for the public and JD34.7 for sellers, he said.

Gold prices in Jordan rose on Tuesday by 50 piasters per gram. 

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