Wajih Mesfar, president of the Chamber of Artisanal Jewelers of Sfax, stated that the prices of gold on the local market do not rise at the same pace as the increase recorded on the global market. According to him, this gap could constitute an opportunity for investors, particularly in a context marked by forecasts of continued rise of the yellow metal until the end of the current year.
The global price per ounce has gained nearly $600 in five weeks
Mesfar indicated that the price of gold per ounce on the global market reached about $4,625, compared with nearly $4,043 at the start of the period, a rise of around $600 in five weeks.
He added that this progression equates, according to his estimates, to about 60 dinars per gram.
He also recalled that gold had already surpassed $5,000 per ounce, noting that a return to high levels remains possible, which, according to him, reinforces the interest in investing in the yellow metal.
The local market is advancing more slowly
Regarding prices in Tunisia, Mesfar stated that the local market is also rising, but at a slower pace than that observed on a global scale.
He believes that this moderate progression could represent an opportunity for investors, as experts anticipate the continuation of the upward trend in gold prices until the end of the current year.
Gold prices on the local market
According to Mesfar, the prices currently practiced on the local market for so-called “scrap” gold are as follows:
- 9-carat gold: between 130 and 150 dinars per gram.
- 18-carat gold: between 310 and 315 dinars per gram.
- 24-carat gold: about 425 dinars per gram.
Silver is also on an upward trajectory
The president of the Chamber of Artisanal Jewelers of Sfax also indicated that the price per gram of silver is rising.
According to him, the local silver market does not have an official structure tasked with selling the raw material to thousands of artisans. This situation leads some transactions to take place outside organized channels and poses a problem in the control of silver provenance by the competent authorities.
A cooperative proposed to import and distribute silver
Mesfar revealed that a cooperative has been proposed in this framework and is currently underway. It should, in the future, take charge of importing silver and distributing it to artisans within a legal and organized framework. Regarding prices, he specified that the raw silver gram with fineness 1000 is currently traded between 5.5 and 6 dinars per gram.
