Gold Market Presents Buying Opportunity as Prices Dip, Says Trader

Recent downward movement in gold markets has prompted Lebanese investors to reassess their positions, questioning whether prices will continue falling or whether current levels offer an attractive buying opportunity.

In remarks to Lebanon Debate, gold trader Bashir Hassoun characterized the precious metal as caught in a short-term decline following the drop of the ounce to approximately $4,140. He raised the possibility that prices could extend lower or potentially stabilize at current levels.

Hassoun noted that gold remains under downward pressure in the near term, with the potential for the ounce to reach $4,000 or lower should current global market dynamics persist. However, he also flagged the possibility of a temporary corrective bounce, with prices potentially recovering to the $4,200 to $4,300 range per ounce before resuming their downward trajectory.

The trader emphasized that the current price decline should not trigger a selling response. Rather, he framed it as an opportune moment for those with a medium to long-term investment horizon. Hassoun suggested that any additional price weakness could ultimately set the stage for significant appreciation down the line.

Breaking down current market rates, Hassoun indicated that 24-karat gold trades at roughly $133 per gram, while 21-karat gold sits near $117 per gram and 18-karat gold at approximately $100 per gram. The English gold pound trades at about $945.

Silver has similarly experienced recent weakness, with ounce prices fluctuating between $63 and $64, while a kilogram of silver has reached approximately $2,075.

Hassoun underscored that these figures exclude commissions and craftsmanship fees, which fluctuate based on jewelry type and origin—whether locally produced, Italian, or from elsewhere. He noted that actual retail selling prices typically fall below the rates displayed on international trading platforms.

Hassoun concluded by urging potential market participants to view the current pullback as a deliberate purchasing opportunity rather than cause for concern. He maintained confidence that gold remains poised for record highs once the current correction phase concludes.