On a tour of “Al -Youm” on the markets … families are directed towards saving in gold

Gold prices are witnessing a remarkable global contrast in light of new American taxes and escalating geopolitical factors, causing severe fluctuations that pushed its prices to unprecedented historical levels.
Despite the coincidence of this rise with the Eid season, specialists rule out that local demand has a major role, stressing that the global factors are the main driver of the market, amid increasing awareness among buyers.
Al -Youm newspaper monitored the opinions of a number of investors and shoppers, on price movements and motives behind the purchase.

Global turmoil

Ahmed Abdel -Hadi, the owner of one of the gold stores, said that gold is one of the most important global origins, because of its direct impact on the economies of countries.
He pointed out that it is considered a feasible investment opportunity in light of economic fluctuations.
He added: “We witnessed during the month of Ramadan and until today noticeable changes in global gold prices, and the demand for purchase has been observed during the holy month, but the situation has recently changed with the continued fluctuation in the market.”
Mujtaba Al -Nasser, one of the gold merchants in Dammam, said that the culture of gold in many consumers has developed for the better.
He noted the existence of an increasing economic awareness of the prices of gold and its importance as a savings tool.
He added: “It has become clear that there is an accurate follow -up of the market movement by a wide segment of people, which indicates the growing knowledge of the importance of this precious metal as a safe haven.”
Al -Hanouf, the designed, said that her visit to the gold market aims to invest, noting that she noticed a noticeable increase in gold prices compared to what it was seven months ago.
She added: “Last Ramadan, people’s tastes differed in choosing jewelry in terms of shapes and sizes, and the purchase was focused on preparing for Eid al -Fitr, but today the purchase motivation is often purely investment.”

Records for gold.

Gold prices have witnessed an unprecedented rise in its prices, reaching its highest historical levels, influenced by escalating global geopolitical factors, at a time when sellers and specialists were excluded that the Eid or local demand season was the cause of this rise.
In a special tour of the newspaper “Today” in the largest gold complex in Jeddah, a number of gold sellers in various regions of the Kingdom have unanimously agreed that gold today proves that it is “safe haven”, whether for trade or savings, stressing that those who invested in it in the past, today reaps great profits.
Abdullah Al -Sayari, a specialist for 22 years in the field of gold, said that gold prices today break record numbers, at the price of approximate ounce of $ 3038.
He added: “The Kingdom’s market is characterized by its magnitude, as it contains many calibers and artifacts, and the price of gold is one that does not differentiate between the local or the importer because it is linked to the global price, while the difference is at the price of the manufacturer only.

Gold is decorative and treasury

Salim bin Malik, one of the executives of the wholesale gold stores, said that gold prices are high and are the highest historical, noting that it is an opportunity for those wishing to sell due to global economic turmoil and geopolitical problems.
He added: “The best investment is to buy alloys, because there is no tax on it, and gold is always decorative and treasury. As for the artifacts, the price of the manufacturer is added. The belief that the Eid season is the engine behind the high prices this year is inaccurate, the global rise and the reason is not local.”
The seller, Saleh Al -Sayari, said that the types of gold in Saudi Arabia are many and differ in the caliber and industrial prices that are controlled by the quality of the artifacts.

Local demand

He added: “The prices we are witnessing these days we have not seen before, and gold recorded historical levels that did not rise due to the local demand or the holiday season, but rather due to political and economic tensions in the world. Many customers are surprised by the prices and believe that they are temporary, but the reality says otherwise, global factors are the ones that move the price, not the supply and local demand.”
Qais Al -Manhali, a gold seller, pointed out that gold is a safe haven for trade and keeping money, although prices may be a burden on some at the present time, especially those who want to buy for occasions. However, everyone agrees that gold remains one of the safest assets throughout the ages.
He added: “Whether you are a seller, a buyer, or an investor, the rule of” whoever bought gold has not lost “is still firmly firmly in the minds of many, especially with the increase in awareness of the importance of savings and hedging in the shadow of a volatile world.”
On the other hand, one of the buyers said that he always turns part of his salary to buy gold, with the aim of saving and achieving investment in the future, stressing that gold achieves financial reassurance, especially in light of global economic crises.