Gold prices in Yemen reach historic highs amid global market turmoil
SANAA, Jan. 25 (YPA) – Gold prices in Yemeni markets continued their record-breaking ascent on Sunday, reaching unprecedented levels in both Sanaa and Aden, driven by the most aggressive global surge in the history of the precious metal.
Record Figures in Local Markets
The past 24 hours have seen sharp fluctuations in trading prices, as follows:
- In Sanaa: The price of 21-karat gold surpassed the 76,000 YER per gram mark for the first time, while the gold coin (sovereign) surged to 594,000 YER, reflecting a daily increase of 8,000 YER.
- In Aden: Gold hit a historic peak, with 21-karat gold reaching 227,000 YER per gram, and the gold coin soaring to 1,800,000 YER, a daily jump of 30,000 YER.
Since the beginning of the new year, gold has achieved massive gains in the local market; total increases in Aden have reached approximately 230,000 YER per gold coin, while Sanaa saw a total rise of nearly 71,000 YER.
Global Drivers: “Gold Fever” and Trump’s Trade Threats
This domestic price explosion mirrors the global market, where gold breached the $4,950 per ounce threshold for the first time in history on Friday. Analysts attribute this rally to:
- International Tensions: Heightened global anxiety over escalating political instability.
- Trade War Fears: Threats by U.S. President Donald Trump to impose tariffs on European nations effective February 1st. This has reignited fears of a renewed global trade war, driving investors toward gold as a primary safe-haven asset.
YPA