Allan: Local Demand for Gold Slows Down

He added that the local market is witnessing a slowdown in purchasing interest, amid rising prices and economic pressures that limit consumers' purchasing power, along with anticipation of gold price movements in the coming period.

Globally, gold closed the week's trading at a level close to $4,350 per ounce, after prices saw mixed movements during trading, amid investors' monitoring of global economic and monetary developments.

He pointed out that gold prices in the local market decreased by about 1.5 dinars per gram by the end of the week.

Allan noted that the movement of the yellow metal will remain linked in the coming phase to the developments of the dollar and the US monetary policy, in addition to investors' appetite for safe assets, which keeps the possibility of continued price volatility.

Allan warned those wishing to buy gold against relying on unreliable offers, calling for communication with the union committee to verify the invoice, weight, fineness, and wages.

He stressed the necessity of purchasing from licensed commercial outlets and obtaining an official and stamped invoice, in order to preserve consumer rights and ensure the safety of the purchase process.

According to statistical data from the Jordan Chamber of Industry, the gold and jewelry sector in the Kingdom includes about 250 factories and workshops specialized in goldsmithing and jewelry design, providing approximately 10,000 job opportunities.