At Almasa Alfakhira, we observe Wednesday June 17 as a day of dual significance for the fine gold and diamond jewellery market. Gold has recovered strongly to approximately $4,349 per ounce — up 3.6% on the week — as the historic US-Iran peace deal reopened the Strait of Hormuz and sent oil to a two-month low. And today, the US Federal Reserve delivers its interest rate decision, with new Chair Kevin Warsh holding his first press conference. For the discerning buyer of fine jewellery, both developments carry an optimistic message.
Today’s prices:
24K: ~$139.84/gram | 22K: ~$128.18/gram | 21K: ~$122.36/gram | 18K: ~$104.88/gram
For four months, the fine jewellery market operated under the uncertainty of war. Discerning buyers held back on the significant acquisitions — the diamond-set bridal collections, the investment-grade statement pieces. With the peace deal now reached and gold recovering from its war-driven lows, that uncertainty is lifting, and the luxury market is reawakening with renewed confidence.
Understanding today’s market: Gold has risen for three consecutive sessions because the peace deal removed the primary force suppressing the price. The closure of the Strait of Hormuz had driven oil and inflation higher, forcing the Federal Reserve to keep interest rates elevated, which strengthened the dollar and weighed on gold. With the Strait reopening and oil at a two-month low, that pressure is reversing. Today’s Fed decision is the next signal — markets watch whether new Chair Warsh acknowledges that falling oil will ease inflation ahead.
For the fine jewellery connoisseur: The 18-karat and 22-karat gold at the heart of exquisite diamond-set jewellery offers the ideal marriage of purity and the structural strength required to hold precious stones securely. With gold recovering from its lows and every major institutional forecast pointing substantially higher — Goldman Sachs at $5,400, J.P. Morgan near $6,000, UBS at $5,500, all 20% to 38% above today’s price — acquiring fine pieces now, while gold remains 22% below January’s record of $5,589, represents a considered decision for both beauty and enduring value.
The structural foundation is exceptional. Central banks purchased 244 tonnes of gold in the first quarter of 2026 alone, and the World Gold Council’s 2026 survey found 45% intend to buy more over the coming year. This relentless official demand underpins the long-term value of every fine gold piece. Almasa Alfakhira invites you to explore our collection as the market enters this hopeful new chapter, with peace restored and gold’s recovery underway.
Today’s prices: 24K — $139.84/gram | 22K — $128.18/gram | 21K — $122.36/gram
All prices USD. Indicative only. Please confirm final pricing in store.
