Bahrain Sees Gold Sales Surge Amid Wedding Season and Market Uncertainty

Gold sales have surged in Bahrain as families prepare for the upcoming wedding season. Jewellers report that 21-carat gold, priced at BD43 per gram on Saturday, has seen a significant increase in demand. This is a welcome change from six months ago when prices were over BD60 per gram.

The lower price of gold has encouraged buyers to return, with many customers worried that prices could rise again. Bridal jewellery and gold bars are leading sales as families purchase wedding sets for celebrations during Rabi Al Awwal.

Investors have also been buying bullion to safeguard their savings amid market uncertainty. The Federal Reserve's decision to leave interest rates unchanged has reduced market uncertainty, supporting demand for gold as a safe-haven asset.

Silver demand, however, has fallen sharply despite lower prices. A kilogram now costs about BD800, compared with nearly BD1,400 previously, but demand has dropped by around 80 per cent.