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