Amman, June 8 (Petra) – Head of the General Syndicate of Jewelry and
Goldsmiths, Ribhi Allan, on Monday urged citizens to adopt gold
prices on electronic screens recently installed in jewelry shops
throughout the Kingdom.

These screens bear the syndicate’s name and display approved prices
instantly, allowing people to follow prices in real time, he told
Petra in an interview, stressing that screens are the official price
reference.

The syndicate decided to install screens directly linked to global
gold prices in early April so that they appear instantly, and to keep
up-to-date on global price fluctuations, said Allan.

It also aimed to enhance transparency and clarity for the public,
bolster trust, regulate the market, and ensure clear pricing for
everyone, he added.

Allan said global gold prices experienced volatility due to global
economic and political factors related to economic data released by
the United States and improved US bond yields, which strengthened the
dollar. This is compounded by political developments related to
military escalation between Israel and Iran.

He said markets are awaiting the outcome of US-Iranian talks, as well
as developments in energy, oil, and maritime traffic in the Strait of
Hormuz and Bab el-Mandeb, factors that directly affect future gold
prices and financial markets in the coming period.

Allan said the price of an ounce topped $4,300 globally and local
prices dropped by about JD3.5 per gram over the last three weeks.

//Petra//SS