Price of gram of 21-carat gold remains stable in local markets
Date
10/6/2024 5:18:56 AM
(MENAFN) In the local market, the price of a gram of 21-carat Gold has remained stable, holding steady at 53.80 dinars for purchases from goldsmiths' shops as of Sunday. In contrast, the selling price at points of sale is set at 51.80 dinars per gram.
For other gold categories, the selling price for a gram of 24-carat gold stands at 61.70 dinars, while 18-carat gold is priced at 47.80 dinars for buying purposes.
Rebhi Allan, the head of the General Syndicate of Owners of Jewelry and Jewelry Shops, provided further insights into the market conditions. In a press statement on Saturday, he noted that the price of the Rashadi lira, which weighs 7 grams, is currently 380 dinars. Additionally, the English lira, weighing 8 grams, is priced at 433 dinars.
Allan emphasized that overall demand in the local market remains weak, largely attributed to the recent rise in gold prices and the conclusion of the marriage season. While there is some interest in liras and ounces for savings purposes, he highlighted that the supply of gold in the market is also limited.
As the gold market navigates these challenging conditions, the stability of prices reflects a delicate balance influenced by fluctuating demand and supply dynamics. Buyers and investors may need to remain vigilant as they assess their options in this evolving landscape.
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