Amman: Head of the General Syndicate of Jewelry and Goldsmiths, Ribhi Allan, has called on citizens to rely on the gold prices displayed on electronic screens that have recently been installed in jewelry shops across the Kingdom. These screens, which bear the syndicate's name, provide real-time pricing and serve as the official reference for gold prices.
According to Jordan News Agency, the decision to install these screens was made by the syndicate in early April. The screens are directly linked to global gold prices, allowing them to reflect changes instantly and keep the public informed about global price fluctuations. This initiative is intended to enhance transparency, regulate the market, establish trust, and ensure clear pricing for all.
Allan highlighted that global gold prices have been volatile, influenced by global economic and political developments. Economic data from the United States, coupled with improved US bond yields, have strengthened the dollar, affecting gold prices. Additionally, political tensions involving military escalations between Israel and Iran have contributed to this volatility.
He further noted that markets are closely monitoring the outcome of US-Iranian talks and developments in energy, oil, and maritime traffic in strategic locations like the Strait of Hormuz and Bab el-Mandeb, as these factors have a direct impact on future gold prices and financial markets.
Moreover, Allan pointed out that while the price of an ounce of gold topped $4,300 globally, local prices have seen a decrease of about JD3.5 per gram over the past three weeks.