Bahrain: Gold prices expected to drop in the coming year

Gold rates surging due to rising tensions in Middle East.
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The gold prices, which are now almost stable, are expected to drop next year, revealed a number of gold traders and dealers.

They added that the price of one gram is predicted to reach BD12. They confirm that the number of gold stores increased by 15% in 2019 if compared to 2018.

Gold dealer, Ali Rabea, said that the increase in the number of stores in 2019 confirms the increasing demands. He noted 90% of the newly-opened stores belong to Bahraini individuals and companies which, he added, enhances consumers’ confidence during the sales and purchase transactions.

Rabea stressed that the price of the Bahraini gold which is the most requested and sold started to stabilize at BD15 and 600 fils per gram for 21 karats.

It is noteworthy that Bahrain’s market is free of gold deliberate frauds. This was announced by the Director of Precious Metals and Gemstone Testing directorate at the Ministry of Industry, Commerce and Tourism, S. Ali Shubbar Jawad.

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