Gold nears BD40 a gram as buyers turn to bars

TDT | Manama

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Gold prices in Bahrain have jumped, with a gram of 21-carat gold now around BD39, while smaller pieces under a gram are selling above BD55. Some shoppers have stepped back, unhappy with prices and making charges, while others are turning to gold bars as a safer way to preserve value.

Jewellers say the surge has been rapid. A 10-tola bar that cost around BD4,000 a year ago is now over BD5,000, a gain of roughly BD1,000 in less than twelve months. Silver has risen as well, trading at about BD525– BD540 per kilogram, with oneounce pieces near BD1,400.

Traders link the rise to external tensions, increased global demand, and weaker currencies in some countries. They note this pattern is familiar: demand dips temporarily, then trade stabilizes.

Local buying remains uneven. Wedding season has brought a slight lift, yet activity is still below levels seen two years ago. Many buyers now prefer bars to preserve savings, while some start with silver if gold is out of reach. Making charges vary by design and craft, currently around BD4–BD5 per gram.

Retailers report a common market trend: interest rises with the price and eases when it falls. Sales of used jewellery are quiet, while bar purchases account for most of the activity. Traders say all age groups are participating, including early-twenty-somethings buying gold as a haven.

Today, 21-carat gold stands near BD39 per gram, and silver at roughly BD525 per kilogram. Many had expected BD37 to be the ceiling, but prices have overshot that mark. Demand for bars has cooled at these levels, though long-term savers, including families and parents, continue buying