The price of gold in the local markets increased due to its rise in the global markets, which led to an increase in the demand of people to sell their old gold jewelry by more than 60%, and a demand by 50% for replacing the old gold against the gold of new designs and sculptors in addition to manufacturing costs and VAT.

On the other hand, gold mortgages rate decreased compared to previous years in the same period.

Some gold traders say that the markets are witnessing a rise in the price of gold due to the drop of US dollar value and (COVID_19), as countries and individuals consider investment in gold a safe haven in light of the unstable economic conditions, which led to the scarcity of gold bars from global markets due to the increased demand for them, in addition to the high costs of import duties.

The economist Dr. Jaafar Al-Sayegh said that the high price of gold is the result of many economic factors, including the decrease in supply and demand for securities and bonds, especially after the news of the rise in the price of a barrel of oil spread to $ 150 at the end of the year, which made investors turn their demand for gold.