Gold sales see seasonal low demand

AMMAN — Gold prices in the local market are stable despite low demand, according to the General Syndicate of Owners of Trade and Jewellery Shops.

"Weak supply and demand in local markets is due to the uncertainty in the rise and fall of gold prices, which made buyers quite cautious and hesitant; we cannot deny that the decline in sales during the winter season is owed to a lack of many social occasions," reported Al Rai Arabic daily, citing the spokesperson of the syndicate. 

The gold trade in the Kingdom's local markets remains weak. On the other hand, the pace of trade will get back to normal after the holy month of Ramadan, the spokesperson said.

The demand for gold will increase in accordance with the holidays and the summer season, he added. 

The spokesperson urged those who are interested in investing to buy gold.

He also advised investors to buy jewellery manufactured locally. 

Citizens are urged to buy from licensed jewellers and to always ask for a official stamped receipt when making a purchase.