Bahrain Gold Prices Soar to BD46.100 Amid Global Bullion Rush

Gold prices in Bahrain have surged by nearly BD3 per gram over the past week, pushing 21-carat gold to about BD46.100 at some shops.

The rise of around 7% came in two sharp bursts, with gold climbing hard on Wednesday and another surge on Friday taking the world price above $4,300 an ounce to a seven-week high.

Spot gold rose by 2.4% on Friday to $4,341.69 an ounce, its weekly gain topping 7%, the metal's best week since January.

The dinar's peg to the dollar means that moves in world gold prices pass quickly into Bahrain, with similar patterns seen across Gulf markets where currencies are closely tied to the US dollar.