Bahrain: Gold Price Increase In Spite of Sales Decline
The price of a 21-Carats gold in the local market climbed to about 18 dinars today, an increase of 5 dinars, compared to about 13 dinars in the same period last year on the occasion of Mother’s Day, which falls on March 21 of each year.
Social media, including “Instagram” and “Snapchat”, witnessed several gold and jewellery ads about special offers for the occasion of “Mother’s Day”, which ranged between rings, earrings, necklaces, chains, small and large kits.
The owners of gold and jewellery stores confirmed that the gold prices soared significantly, while sales declined by large proportions, as the market is stagnating since the beginning of this year for a variety of reasons like the high price of the yellow metal, the introduction of tax, and obviously the face of sharply rising coronavirus cases outside China.
