By takumihamano 
The gold trade in Russia has been a topic of significant interest and concern, especially given the recent economic and geopolitical developments. Here, we provide an overview of the latest news and trends related to Russia’s gold trade.
- Gold Prices Surge: Gold prices in Jordan have surged by 15% in under three months, with the price per ounce rising from USD 2,638 at the end of 2024 to USD 3,057 last week. This increase has led to a shift in consumer trends and investment patterns, with a decrease in demand for gold jewelry and an increase in sales of gold bars and coins as safer investments. (Source: Jordan Times, 2025-03-23)
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Global Economic Instability: The global economic instability, fueled by US protectionism, trade wars, and tariffs, has decreased investor confidence and disrupted supply chains. This instability has also impacted the gold market, as investors seek safe-haven assets like gold amid economic uncertainty and inflation. (Source: Al Ghad, 2025-04-06)
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Record High Gold Prices: Gold has reached a new high of USD 3,357.40 per ounce, driven by increased US-China trade tensions. Investors continue to see gold as a safe haven amid economic uncertainty and inflation. (Source: Saraya News, 2025-04-17)
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US Dollar Decline: The US dollar has decreased by 9% against a basket of currencies since mid-January, reaching a three-year low. This decline is attributed to a loss of confidence in the United States, potentially linked to President Trump’s trade policies. The weakening dollar has further bolstered the appeal of gold as an investment. (Source: Al Ghad, 2025-04-19)
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Jordan’s Gold Demand: Despite high prices, demand for gold in Jordan remains strong, driven by saving and investment, particularly for gold coins and bars. The price of 21 karat gold is JOD 61.8 per gram for selling and JOD 59.8 per gram for buying. (Source: Khaberni, 2025-04-06)
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Economic Impact of US Tariffs: Former Jordanian Minister of Finance, Dr. Abu Hammour, criticized US tariffs as a violation of global trade principles. The tariffs are expected to decrease economic growth, increase inflation in the US, and lower oil demand. The impact of these tariffs on Jordan’s free trade agreement with the US, which significantly increased Jordanian exports, remains uncertain. (Source: Sawaleif, 2025-04-08)
In summary, the gold trade in Russia and globally is experiencing significant shifts due to economic instability, trade tensions, and currency fluctuations. The surge in gold prices reflects the growing demand for safe-haven assets amid these uncertainties. As the global economic landscape continues to evolve, the gold market will likely remain a critical area of focus for investors and policymakers alike.