Despite the significant increase in gold prices, the markets in Jazan have witnessed a large turnout at gold shops these days.
Okaz monitored the buying and selling activity in the markets.
Some sellers say that the increased demand for buying and selling gold these days is due to the fact that some people give it as gifts during Eid, and also because there are many other occasions that take place during the Eid al-Fitr holiday, such as engagements, marriage contracts, and weddings.
While some are selling gold at the moment due to high prices and using the money to buy holiday supplies or travel and move from one city to another, others use it to change the furniture in their homes.
Some shoppers believe that buying gold now is a way to anticipate its price rising in the coming days, and then selling it at prices exceeding the purchase price.
It is noted that gold prices have witnessed a significant increase these days, with the price of a gram of 24-karat gold reaching 624.07 riyals, the price of a gram of 22-karat gold reaching 572.07 riyals, the price of a gram of 21-karat gold reaching 546.06 riyals, and the price of a gram of 18-karat gold reaching 468.05 riyals.
Despite the significant rise in gold prices, the markets in Jazan have witnessed a heavy flux these days at gold shops.
“Okaz” monitored the buying and selling activity in the markets.
Some sellers say that the current demand for buying and selling gold is due to the fact that some people give it as gifts during the holiday, as well as the presence of many other occasions that occur during the Eid al-Fitr holiday, such as engagements, marriage contracts, and weddings.
Meanwhile, some people are opting to sell gold at the moment due to the high prices and to benefit from the amount in purchasing holiday necessities or traveling from one city to another, while others benefit from it by changing their home furniture.
Some shoppers believe that buying gold now is a precaution against future price increases, allowing them to sell it at prices exceeding the purchase value.
It is worth noting that gold prices have seen a significant increase recently, with the price of 24-carat gold reaching 624.07 ryals per gram, the price of 22-carat gold at 572.07 ryals per gram, the price of 21-carat gold at 546.06 ryals per gram, and the price of 18-carat gold at 468.05 ryals per gram.
