Local gold markets have witnessed a notable resurgence in recent days, driven by a decline in global gold prices that encouraged consumers to take advantage of lower price levels and increase their purchases.
The price of 21-carat gold stood at approximately BD 45.010 per gram, while 22-carat gold reached BD 47.200 per gram and 24-carat gold was priced at around BD 51.500 per gram.
Meanwhile, the price of an ounce of gold reached $4,218.
Jeweller Hussain Al Shehabi said that gold had not experienced a decline of this magnitude for quite some time, pointing out that the price of a gram had dropped to around BD 42 before stabilising at approximately BD 45.
Mr Al Shehabi expected gold prices to undergo further corrective movements in the coming period before resuming their upward trend, supported by global market factors.
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