Gold prices have surged to new record highs both globally and in Jordan, driven by continued demand for safe-haven assets amid global market uncertainty.
According to CNN Business, gold reached an unprecedented $3,716.13 per ounce in instant transactions on Monday, marking the highest level ever recorded. Spot silver also gained, rising 1% to $43.49 per ounce, approaching a 14-year high.
Jordan market follows global trend
In Jordan, the General Syndicate of Owners of Trade and Jewelry Shops confirmed that local gold prices climbed to their highest point in history on Monday. Prices increased by 70 piasters per gram, reflecting global market momentum.
The price of 21-karat gold, the most commonly traded standard in Jordan, rose to:
- Selling price: 75.30 JOD per gram
- Purchase price: 72.80 JOD per gram
Other karat grades also saw proportional increases, according to Ammon News.
Drivers of the surge
Analysts attribute the rise in global gold prices to strong investor interest in safe-haven assets amid geopolitical tensions, persistent inflation concerns, and expectations surrounding global monetary policy shifts.
With silver also rallying, commodity experts say precious metals are benefiting from both speculative demand and their traditional role as stores of value during uncertain times.
Local implications
For Jordanian consumers, the jump in gold prices is expected to affect jewellery purchases, particularly ahead of the upcoming wedding season, when demand for gold traditionally rises. Retailers noted increased hesitation among buyers, but traders also reported strong activity from investors seeking long-term security.
Gold has historically been regarded in Jordan as a preferred form of savings and wealth preservation, and market watchers say the latest surge could strengthen that role despite higher costs for consumers.
