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business18h ago
Gold fluctuations baffle Lebanese jewellers, gold market
- Gold price in Lebanon hovered near $5,000 per troy ounce, signaling a sharp market move.
- Analysts disagree on causes, with some citing a stronger dollar and instability, others calling a correction.
- Lebanon’s banking crisis and currency collapse amplify gold as a hedge for savers.
- Jewellers report slowed business as customers hesitate to buy or sell gold amid price swings.
- Some expect gold prices to rise further, with JP Morgan predicting a 30% increase by year-end 2026.
- Gold is seen as a safe store of value in Lebanon amid crisis and bank distrust.
- Beirut jewellers doubt the cost of mining and refining explains price spikes.
- The article links price swings to a volatile global climate and regional instability.
- Gold and precious metals historically attract buyers during geopolitical or economic uncertainty.
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