At Almasa Alfakhira, we mark Monday June 15 as a turning point for the precious metals and fine jewellery market. The US-Iran war that has shaped gold prices since February 28 is ending. A peace deal was reached over the weekend, the US naval blockade has been lifted, and the Strait of Hormuz is reopening. Gold has responded by climbing to approximately $4,325 per ounce — recovering strongly from last week’s seven-month low. For lovers of fine gold and diamond jewellery, this historic day carries a clear and optimistic message.
Today’s prices:
24K: ~$139.07/gram | 22K: ~$127.48/gram | 21K: ~$121.66/gram | 18K: ~$104.30/gram
For four months, the fine jewellery market across the Gulf operated under a cloud of uncertainty. Many discerning buyers deferred significant purchases — the diamond-set necklaces, the bridal sets, the investment-grade pieces — waiting for the price direction to clarify. That uncertainty is now lifting along with the war. With peace reached and the structural outlook for gold turning decisively positive, the luxury gold market is reawakening.
Why prices are rising as the war ends: The mechanism is worth understanding for any serious buyer. The war suppressed gold not by reducing demand, but by driving an oil shock that fed inflation and forced the Federal Reserve to keep interest rates high — which strengthened the dollar and held gold down. With the Strait of Hormuz reopening, oil is falling, inflation will follow, the Fed can ease, and gold is free to rise on its powerful structural foundations: record central bank buying, constrained supply, and growing demand for tangible wealth. In 2025 alone, gold set 53 all-time highs.
For the discerning buyer: The 18-karat and 22-karat gold that forms the foundation of fine diamond-set jewellery offers an ideal balance of purity and the structural strength needed to secure precious stones. With gold recovering from its war-driven lows and institutional forecasts pointing substantially higher — Goldman Sachs at $5,400 and J.P. Morgan at $6,300 by year-end — acquiring fine pieces now, while prices remain below January’s record of $5,589, is a considered decision for both adornment and lasting value.
Tomorrow’s US Federal Reserve meeting on June 16–17 is the next significant event. The formal signing of the peace deal is scheduled for Friday in Switzerland. Almasa Alfakhira invites you to explore our collection as the market enters this hopeful new chapter.
Today’s prices: 24K — $139.07/gram | 22K — $127.48/gram | 21K — $121.66/gram
All prices USD. Indicative only. Please confirm final pricing in store.
