Jordan: Demand on Gold in Ramadan Drops 50%

AMMAN —Al Ghad— Domestic demand on Gold in Jordan since the beginning of Ramadan declined 50 per cent, compared to demand cited of the same duration last year, according to the statements of Secretary General of the jewellers association, Ribhi Allan, to “Al Ghad”, who explained that it may be caused by the global and local fluctuation of gold prices, reaching a high of USD1,282, said Allan.

The domestic price of Gold ranges from JOD22.25, to JOD26.25, and JOD29.5 per gram of 18, 21, and 24 Karat gold, respectively.

The price fluctuation worldwide, as well as the recent Gold high, is, according to Allan; due to UK votes to secede from the European Union, as well as disappointing data on American transactions and the interest readjustments expected by the Federal Bank of America.

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