Gold Goes Down, As Irma Hurricane Losses “Not As Bad As Expected”

تم نشره في Sat 16 September / Sep 2017. 12:00 AM
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AMMAN —AlGhad— Gold dropped by nearly USD25.00 on the ounce globally, driving domestic gold prices down, according to the Secretary General of the Jewellers Association, Ribhi Alayan.

Last week, gold dropped domestically to JOD30.4, JOD27, and JOD22.9 per gram of 24, 21, and 18 carat gold, respectively.

On the ounce, the price of gold at last week’s closing deliberations stood at USD1,326, compared to USD1,355the week before.

Profits went up as the losses caused by the Irma Hurricane were “not as bad as expected” —economically, US media have reported.

International reports, however, confirm that gold prices have gone down due to a relative decline in demand, ahead of US inflation data.

Indicators to an upcoming hike in US interests rates will drive up gold prices, Alayan reaffirms, as demand is relatively steady, despite fluctuations, he says.