News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
30
o
Bekaa
30
o
Keserwan
30
o
Metn
30
o
Mount Lebanon
28
o
North
34
o
South
30
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Morning Talk
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
30
o
Bekaa
30
o
Keserwan
30
o
Metn
30
o
Mount Lebanon
28
o
North
34
o
South
30
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Lebanese are rushing to buy gold amid financial instability: report
Press Highlights
2023-03-27 | 05:17
High views
Share
Share
3
min
Lebanese are rushing to buy gold amid financial instability: report
With Lebanon and the world witnessing a financial crisis, international investors focus on gold.
The Lebanese people and the country’s diaspora are increasingly worried about their savings in banks, as many panic given the current problems in Lebanon’s banking sector.
This article was initially published in, translated from the Lebanese newspaper of al-Modon.
The price of an ounce of gold jumped recently, in relation to the US banking crisis, by about 10 percent, reaching its highest level in a year due to the increasing demand for it, as it is one of the safest options for stocks and currencies.
According to al-Modon newspaper, in Lebanon, the scene seems surreal, as the Lebanese are fleeing to hedge in gold after their money was seized in Lebanese banks and their “escape” from the banks of countries that might be affected by the American banking crisis.
The report pointed out that a tour of jewelry merchants and shops reveals the general trend of the Lebanese - residents and expatriates - as many merchants agree that the sale of gold coined has declined recently at the expense of the remarkable rise in the sale of ounces, pounds, and even bullion.
The active movement of selling is not limited to Swiss ounces and bullion, which its owner can exchange in various countries, but also the movement of Lebanese bullion and ounces, which stimulates production.
Head of the Gold and Jewelry Syndicate Naim Rizk said in an interview with al-Modon that the demand for unformatted gold is since it is easy to sell.
Regarding the paying mechanisms, merchants adhere to cash transactions, blocking any other transactions, neither in Lebanese lira nor bank checks. It is only the US dollar that manages gold purchases.
However, some gold dealers adopt payments in installments, which allows the Lebanese, who have limited ability to save, to acquire some gold coins.
Lebanon Economy
Press Highlights
Gold
Lebanon
Banking
Crisis
Finance
Trade
Economy
Next
From standstill to stalemate: Lebanon's presidential elections 'stalled' in the shadows of Gaza war
Recommended For You
d-none hideMe
0
Press Highlights
2024-03-26
From the inside: Hezbollah's take on southern Lebanon's renewed tensions
Press Highlights
2024-03-26
From the inside: Hezbollah's take on southern Lebanon's renewed tensions
0
Press Highlights
2024-03-25
Exploring Lebanon's presidential path: Three key initiatives unveiled
Press Highlights
2024-03-25
Exploring Lebanon's presidential path: Three key initiatives unveiled
0
Press Highlights
2024-03-25
Ahmad Rustom highlights progress and challenges in national dialogue initiative
Press Highlights
2024-03-25
Ahmad Rustom highlights progress and challenges in national dialogue initiative
0
Press Highlights
2024-03-25
Lebanese Presidential elections postponed until after Eid al-Fitr
Press Highlights
2024-03-25
Lebanese Presidential elections postponed until after Eid al-Fitr
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World News
2024-03-20
US imposes sanctions on three Iran weapons-procurement networks
World News
2024-03-20
US imposes sanctions on three Iran weapons-procurement networks
0
News Bulletin Reports
2024-07-01
Lebanon's 2024 summer: Festivals, fun, and flourishing tourism - A look at the numbers
News Bulletin Reports
2024-07-01
Lebanon's 2024 summer: Festivals, fun, and flourishing tourism - A look at the numbers
0
Lebanon News
00:56
Israeli army says it killed Hezbollah operative in eastern Lebanon
Lebanon News
00:56
Israeli army says it killed Hezbollah operative in eastern Lebanon
0
Lebanon News
2024-06-20
Cyprus affirms non-involvement in regional war in talks with Lebanese FM
Lebanon News
2024-06-20
Cyprus affirms non-involvement in regional war in talks with Lebanese FM
Videos
d-none hideMe
0
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
Lebanon News
2024-06-18
Hezbollah scouts areas in northern Israel: What the hoopoe came back with (Video)
0
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
Lebanon News
2024-06-12
Over 100 rockets launched from southern Lebanon toward northern Israel (Video)
0
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
Lebanon News
2024-06-10
Video shows Israeli drone downing in Iqlim al-Tuffah, South Lebanon
0
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
Middle East News
2024-05-21
Funeral ceremony of the Iranian president begins in Tabriz (Video)
0
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
0
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Sports News
12:42
Q3: Bahamas 63 - 54 Lebanon. Bahamas leads, but Lebanon has narrowed the difference in the FIBA Olympic Qualifying Tournament semi-finals! Watch the game on LB2 or lbcgroup.tv
Sports News
12:42
Q3: Bahamas 63 - 54 Lebanon. Bahamas leads, but Lebanon has narrowed the difference in the FIBA Olympic Qualifying Tournament semi-finals! Watch the game on LB2 or lbcgroup.tv
2
Sports News
12:50
Final Score: Bahamas 89 - 72 Lebanon. Despite a strong effort, Lebanon's journey in the FIBA Olympic Qualifying Tournament comes to an end
Sports News
12:50
Final Score: Bahamas 89 - 72 Lebanon. Despite a strong effort, Lebanon's journey in the FIBA Olympic Qualifying Tournament comes to an end
3
Lebanon News
00:56
Israeli army says it killed Hezbollah operative in eastern Lebanon
Lebanon News
00:56
Israeli army says it killed Hezbollah operative in eastern Lebanon
4
Lebanon News
07:27
Cardinal Parolin urges election of new Lebanese president, calls for Christian involvement
Lebanon News
07:27
Cardinal Parolin urges election of new Lebanese president, calls for Christian involvement
5
Middle East News
06:04
Who is Iran's new president-elect, Masoud Pezeshkian?
Middle East News
06:04
Who is Iran's new president-elect, Masoud Pezeshkian?
6
Israel-Gaza War Updates
08:40
Hamas denies the arrest of one of its members
Israel-Gaza War Updates
08:40
Hamas denies the arrest of one of its members
7
News Bulletin Reports
12:58
High Toll of Conflict: Hezbollah and Israeli Attacks Since October 8
News Bulletin Reports
12:58
High Toll of Conflict: Hezbollah and Israeli Attacks Since October 8
8
News Bulletin Reports
12:43
Arabs Resume Flights Over Syria After 12-Year Hiatus: A New Beginning for Regional Relations
News Bulletin Reports
12:43
Arabs Resume Flights Over Syria After 12-Year Hiatus: A New Beginning for Regional Relations
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More