21-Carat Gold Trades Above International Benchmark Amid Economic Pressures
Gold prices in Sudan have risen sharply, with the price of 21-carat gold reaching $134.50 per gram, exceeding the global benchmark of approximately $130.06 per gram, according to market data.
The price gap highlights growing pressure within Sudan’s domestic gold market, where economic instability, currency fluctuations, and supply chain disruptions have contributed to rising local costs.
Analysts say the higher local price reflects strong domestic demand and limited supply, as well as the impact of inflation and exchange rate challenges affecting the Sudanese economy. In such conditions, gold often becomes a preferred store of value, driving prices above international averages.
Sudan is one of Africa’s major gold producers, and the commodity plays a crucial role in the country’s economy. However, ongoing economic difficulties and market distortions have at times led to discrepancies between local and global pricing.
Experts note that unless macroeconomic conditions stabilize, the premium on gold prices in Sudan could persist, with implications for both consumers and the broader mining sector.
(Photo: Reuters)
