One million and 615 thousand riyals! This is the crazy price that the gold pound reached in the Aden markets today, Thursday, in a historic price explosion that shakes the foundations of the Yemeni economy and puts citizens facing a shocking reality.
Gold transactions in Yemen recorded new records that reflect the depth of the stifling economic crisis, as the Yemeni markets witnessed an amazing discrepancy in prices between different regions. While the price of the gold pound in Aden reached an astronomical level of nearly two million riyals, prices in Sanaa stabilized at the level of 527 thousand riyals.
You may also like:
Table of Contents
The biggest shock lies in the frightening acceleration of the rate of rise, as the value of the gold pound in Aden jumped by more than 60 thousand riyals in just one weekWhile the 21 gram gram recorded an increase of 10 thousand riyals in the same period, reaching 210 thousand riyals.
As for the Sanaa markets, the picture seemed relatively less extreme, with a weekly rise of 18,000 riyals in the price of the pound and 1,250 riyals in the 21-carat gram, which reached 67,500 riyals.
You may also like:
The golden wave sweeps November:
The latest developments were an extension of an upward wave that began last November, when gold achieved exceptional gains. In Aden, the monthly increase exceeded 45,000 riyals per pound and more than 20,000 riyals per gram, while in Sanaa, gains reached 34,000 riyals per pound and 2,500 riyals per gram.
You may also like:
Today’s prices in detail:
- Aden: Pound bought 1,581,000 riyals / sold 1,615,000 riyals | Gram buy 196,400 riyals / sell 210,400 riyals
- Sanaa: Pound purchase 522,000 riyals / sale 527,000 riyals | Gram buy 64,800 riyals / sell 67,500 riyals
This reveals the huge disparity in prices – which goes beyond 200% Between the two regions – about the extent of the economic fragmentation that the country is experiencing, transforming gold from just a precious metal into a last resort to preserve value in light of the collapse of the local currency.
