Gold shatters $4,950 barrier globally, recording “historic” surges in Yemeni markets

SANAA, Jan. 23 (YPA) – Gold prices witnessed an unprecedented historic leap in both global and local trading this Friday, as the precious metal surpassed the $4,950 per ounce threshold globally. This surge is driven by waning confidence in U.S. assets and escalating geopolitical tensions.

Global Market: Record-Breaking Figures

Spot gold reached a record high of $4,951.91, amid sharp volatility on Wall Street triggered by fears over U.S. tariff policies. The rally extended beyond gold, with Silver hitting $98.71 per ounce and Platinum reaching $2,639.

Local Market: Frantic Price Hikes in Sanaa and Aden

The global turmoil has reflected sharply on Yemeni markets, with prices recording record increases over the past 48 hours:

• In Sanaa: The price of 21-karat gold jumped to 73,500 YER per gram, while the Gold Sovereign reached 582,000 YER—totaling an increase of 59,000 YER per sovereign since the start of the year.
• In Aden: Markets saw the highest spikes, with 21-karat gold reaching 229,500 YER per gram, and the Gold Sovereign hitting 1,763,800 YER—an increase of 190,000 YER per sovereign since the beginning of the year.

Price Table (Closing Friday, Jan 23):

Analysts attribute this collapse in purchasing power and the soaring prices of precious metals to a “shaken confidence” in paper currencies and a global shift toward safe-haven assets, sparking widespread anxiety among local traders.

YPA