Overview
- Local 21‑carat gold has fallen sharply from its earlier highs and is now one of the main drivers of the recent buying surge.
- Reported current retail rates are roughly $129/gram for 24ct, $118/gram for 22ct, $113/gram for 21ct, $97/gram for 18ct and about $905 for a gold pound.
- Demand has shifted toward bullion and gold pounds, producing a reported shortfall in bars and renewed use of the reservation practice known locally as 'hajz'.
- People who reserved jewelry or bars in recent months report investment losses of up to about $34 per gram and rising frustration when trying to sell.
- Sellers are slowing disposals and holding inventory in case prices rebound, and sector representatives say the slump may suit long‑term buyers but leaves short‑term direction uncertain.