Al -Jazeera Net Correspondents
Oman Gold is one of the oldest and most important means of savings and investment in Jordan, as it is traditionally seen as a safe haven in facing economic challenges. For years, gold has kept its value in light of market turmoil and currency rate fluctuations.
With the accelerated rise in the global gold prices, the Jordanian markets witnessed an unprecedented increase in the demand for the purchase of gold, ounces, and rational ligaments, as the purchase pace increased by 65%, compared to the period before the decisions of US President Donald Trump, the customs of the customs of the Jordanian jewelry and jewelry traders of Al -Jazeera Net.
Data issued by the Central Bank of Jordan revealed that the Kingdom’s yellow metal reserves recorded a remarkable increase of 506 million dinars (714 million dollars), bringing the total reserves to about 4.763 billion dinars (6.72 billion dollars) at the end of February 2025.
In light of the state of economic volatility and the decline in confidence in a number of traditional savings tools, many Jordanians tended to acquire the “golden pounds” as a reliable savings option, but they faced a remarkable shortage in the availability of these coins within some local markets, whether rational or English, as a result of the increasing demand by citizens to buy them.
Historical rates
For his part, the captain of the owners of jewelry and jewelry stores, Rabhi Allan, stated that the successive rises in gold prices exceeded the expectations of analysts and followers. He said in his interview with Al -Jazeera Net that gold prices in Jordan reached unprecedented historical levels, which prompted the majority of citizens to refrain from selling their savings of gold, as they were established with the conviction that the prices were likely to rise in light of international data.
Allan pointed out that gold is – no doubt – a safe haven for any economy, explaining that the high prices globally came as a result of the increase in demand and the influence of markets by geopolitical tensions. He added that the United States is one of the most prominent actors in the pricing of gold, and said, “The more economic tensions, the greater the frequency of resorting to gold as a safe haven.”
Allan explained that the local market is directly affected by the global price movement, but it also interacts with the purchasing power of the Jordanian consumer, which was negatively affected by this significant rise, which led to a decline in demand for traditional jewelry, in exchange for the increasing demand for investment products of gold such as lanes and alloys.
He pointed out that the economic and political reasons are not alone that enhance the demand for gold, but rather that the international trends of central banks play a fundamental role, as many countries and institutions tend to increase their possession of precious metal. He added that the quantities offered in the local markets are less than the actual demand, which makes it likely to continue to rise.
Strategic tool to enhance stability
In the same context, the economist Hossam Ayesh considered that gold represents one of the most important means of savings for countries, and contributes to strengthening strategic precautions of precious currencies and minerals, which reflects positively on the stability of financial and monetary systems.
Speaking to Al -Jazeera Net, Ayesh advised the Jordanians not to hesitate to buy gold for those who wish to do so, explaining that no one can assert in prices accurately, whether up or down. He added that the Central Bank of Jordan is adopting a clear policy in dealing with its gold reserves, as it performs studied and purchased operations to achieve the maximum benefit from the fluctuations of markets, and in a way that enhances the stability of the general reserve.
Ayesh pointed out that Jordan is currently issuing large quantities of gold to several Arab and Gulf countries, in light of the high global demand, and local companies are going to market their products in external markets to compensate for the decline in local sales caused by high prices and weak purchasing power among citizens, especially with regard to gold allocated to decoration.
A noticeable development in the gold industry
In a related context, the gold industry sector in Jordan is witnessing a remarkable development, which represented the opening of the first national refinery to purify gold in the country, which enhances the Kingdom’s ability to export its products to 54 countries around the world.
The refinery is equipped with the latest technologies, which enables it to convert gold bars from 14, 18 and 21 carats to 999.9 fresh gold, as well as the ability to manufacture high -quality jewelry pieces from raw materials.
On the level of global markets, gold prices recorded a slight increase during Friday’s trading, driven by investors’ demand for purchase, after a sharp decline in the previous session, while attention is directed to the expected commercial talks between the United States and China early next week, which may in turn affect the movement of the markets and the directions of investors.
A safe haven in light of economic conflicts
On a wider scale, the Arab markets are witnessing an active movement in the direction of buying gold, as a safe haven in times of crisis. This trend comes amid record leaps in the prices of yellow metal worldwide, as a result of the escalation of the trade war launched by US President Donald Trump, as well as the tension between him and Federal Reserve Chairman Jerome Powell.
