Yemeni gold markets experienced a downturn Thursday, with prices declining across most karats amid continued economic fragmentation following years of conflict. The price of 21-karat gold, a popular investment in the region, saw a particularly noticeable drop as the country grapples with a complex web of economic challenges [[2]]. This report details the important price discrepancies observed between markets in Aden and Sana’a,reflecting localized economic conditions and currency fluctuations within Yemen.
Gold prices in local Yemeni markets experienced a relatively significant decline Thursday, across most karats, particularly 21-karat gold and the gold ounce, while a notable price difference persists between markets in the temporary capital, Aden, and Sana’a.
In Sana’a:
Gold Pound:
Purchase: 519,000 Yemeni Rial
Sale: 524,000 Yemeni Rial
21-Karat Gold (per gram):
قد يعجبك أيضا :
Purchase: 63,700 Yemeni Rial
Sale: 67,800 Yemeni Rial
In Aden:
Gold Pound:
Purchase: 1,530,000 Yemeni Rial
Sale: 1,615,000 Yemeni Rial
21-Karat Gold (per gram):
Purchase: 191,300 Yemeni Rial
Sale: 206,100 Yemeni Rial
Economic experts attribute the substantial disparity in gold prices between Aden and Sana’a to differing exchange rates for local currencies in liberated governorates versus those under Houthi control. The local market is also influenced by fluctuations in global gold prices and the value of the U.S. dollar.
Yemeni gold markets saw considerable price drops on Thursday, with 21-karat gold experiencing a particularly sharp decline. The price variance between Aden and Sana’a continues to be a key feature of the market.
As of Thursday, a gold pound in Sana’a was purchased for 519,000 Yemeni Rial and sold for 524,000 Yemeni Rial. A gram of 21-karat gold traded at 63,700 Yemeni Rial for purchase and 67,800 Yemeni Rial for sale.
In Aden, a gold pound was purchased for 1,530,000 Yemeni Rial and sold for 1,615,000 Yemeni Rial. The purchase price for a gram of 21-karat gold was 191,300 Yemeni Rial, while the selling price reached 206,100 Yemeni Rial.
Economists point to exchange rate differences between areas controlled by the Yemeni government and Houthi-controlled regions as a primary driver of the price gap. Global gold price volatility and the exchange rate of the U.S. dollar are also contributing factors to the market’s performance. This price divergence underscores the complex economic challenges facing Yemen.
