Demand holds steady despite rising gold prices

JEDDAH: The gold market in Jeddah has entered a period of relative stability following weeks of heightened seasonal demand, with traders reporting a shift in buying patterns as consumers become more price-conscious. “Demand remains strong during Hajj, especially from pilgrims purchasing gifts and small jewelry pieces, but we also see more selective buying compared to earlier peaks,” Mohammed Salem, a Jeddah-based gold trader, told Arab News.

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