AMMAN – Oil and gold prices declined globally on Monday, and locally in Jordan, as interest rates are expected to rise soon, according to Bloomberg.
Concerns over anticipated interest rate hikes and the possibility of a supply shortage following OPEC+ coalition’s recent production cuts have cased oil prices to take a dip, Bloomberg reported, by 48 cents on the barrel.
Brent crude dropped to USD 81.18 a barrel (JOD 57.48), while West Texas Intermediate crude dipped to USD 77.39 a barrel (JOD 54.79), reports have confirmed.
Gold prices also experienced a decline by USD 0.56 per gram (JOD 0.40) in Jordan, as reported by the General Association for Owners of Jewellery Shops, and globally, as confirmed by goldprice.org.
The selling price of a gram of 21-karat gold, the most demanded in the Jordanian local market, decreased to USD 56.52 (JOD 40.1), and the purchase price to USD 54.10 (JOD 38.4).
Additionally, the selling price of a gram of 24-karat gold also decreased, to USD 65.72 (JOD 46.6), and the purchase price to USD 62.17 (JOD 44.1), and the selling price of the 18-karat gram decreased to USD 50.32 (JOD 35.7), and the purchase price to USD 46.11 (JOD 32.7).
