Heba Mohsen
Abdul Rahman: The demand doubled if the price of gold exceeds the 3200 dollar barrier:
Gold experts and owners of gold shops agree that the prices of yellow metal in Bahrain will rise slightly during the days of Eid Al -Fitr due to the increase in demand during this period, with the remaining expectations of increasing the demand for the purchase of gold due to the social customs related to the feast, which leads to a relative activity in the local markets, at a time when market indicators indicate that the largest demand targets “double gold”, according to experts.
Gold remains one of the most preferred options due to its sustainable value and its safe nature, which is not easily affected by short -term economic fluctuations.
According to the experts and owners of the shops who were spoken to by “Al -Watan”, the shops in Bahrain started selling golden artifacts without adding a manufacturer or profit margin as a result of the high price of gold grams, explaining that the goal of moving is to try to attract customers in light of the increase in prices.
They explained that the global gold prices are affected by many economic factors such as political tensions, currency fluctuations, and changes in interest rates, and therefore it is natural that this will be reflected in the local prices in Bahrain, which will eventually lead to a slight increase in prices, noting at the same time that the market may witness a double demand for gold, if the price of the gram exceeds the 3200 dollar barrier.
The founder of the “Gold Market” platform, Nawaf Abdul Rahman, said in his talk about some of the expected directions in the gold market during the Eid period, that “gold prices are witnessing noticeable changes as a result of many local and global economic factors.”
He added that “the markets in Bahrain witnessed an increasing demand for the purchase of gold and jewelry manufactured during the month of Ramadan, where the demand for purchase began early in the holy month, but it began to decline apparently with the approaching end of the month,” explaining that among the most sought -after types were “double gold”, which witnesses special interest due to its beauty and value, which makes it one of the preferred options for purchase in religious occasions.
“In the world, the price of the ounce of gold exceeded the barrier of 3000 dollars, which attracted widespread interest by investors and savers in Bahrain. Many financial advisers expect that the price of gold will continue to rise to 3200 dollars in the short term, in parallel with the decrease in the value of the shares globally as a result of political turmoil and wars.”
He added, “Although any possible correction in the stock markets may lead to a decline in gold prices, experts believe that gold remains a long -term investment. Therefore, investors are advised to deal with it with caution and moderate and continuous investment.”
Nawaf Abdul Rahman expected that the demand for gold will increase during the days of Eid Al -Fitr in Bahrain, which is in line with the social customs followed in this period, as many individuals are keen to buy gold as a gift for family and relatives or as a decoration to celebrate the feast. This tradition, along with expectations of high prices, will lead to a noticeable activity in the local market.
As for investors in Bahrain, he stressed that gold will remain the preferred option to maintain value and safe investment, especially in light of economic fluctuations and global tensions. In the event that gold prices continue to exceed the 3200 dollar barrier, the demand for yellow metal is expected to increase in the coming days.
For his part, Jalal Al -Tahou, who is the owner of one of the gold shops, said: “In light of the expected increase in gold prices and the high domestic demand for it due to Eid Al -Fitr, experts expect the upward trend in the demand for gold in Bahrain. While the local market is witnessing a remarkable activity in this period, gold remains one of the best options for citizens, whether for decoration or as a long -term investment in light of the volatile global economic conditions.
He pointed out that some stores in Bahrain have started selling gold jewelry without adding a manufacturer or profit margin as a result of the high price of gold gram, and this move, he said, comes in an attempt to attract customers in light of the increase in prices.
And it also expected that gold prices in Bahrain will witness a slight increase during Eid Al -Fitr days, because gold prices are greatly affected by the global economy, including the fluctuation of the value of the US dollar and possible economic crises, so it is expected that these fluctuations will continue to influence prices in Bahrain, where local markets can witness minor increases in prices.
Al -Tawha pointed out that gold usually witnesses in the period of holidays and religious occasions an increase in prices due to the tradition of making gold as gifts, as well as the readiness of many citizens to buy due to Eid celebrations.
He stated that many citizens in Bahrain prefer to buy gold as a way to save value from inflation or long -term storage. As economic pressure increases in some global markets, the demand for gold may be increased by individuals who want to secure their money.
