The president of the National Chamber of Jewelry Traders, Hatem Ben Youssef, foresees a further rise in gold prices on the Tunisian market, estimated between 15% and 20% by the end of the year, in a context marked by the continued surge in gold prices worldwide.
The raw gram of gold at over 323 dinars
According to Hatem Ben Youssef, the price of the raw gram of gold 18 carats is currently set at 323 dinars and 140 millimes, based on the reference price of the Central Bank of Tunisia.
In jewelry stores, the price of certain simple pieces currently hovers around 420 dinars per gram.
Up to 500 dinars per gram by the end of the year
The president of the National Chamber of Jewelry Traders believes that the price of the gram of gold ready for sale in jewelers could reach between 470 and 500 dinars by the end of the year.
A such development would represent a significant rise for Tunisian consumers, as the market is already feeling the effects of the ongoing increase in international prices.
Geopolitical tensions support gold prices
Hatem Ben Youssef attributes this progression to several factors, notably the geopolitical tensions, regional and international conflicts and their repercussions on trade and the global economy.
In a context of uncertainty, gold maintains its status as a safe haven, which helps to strengthen demand and support prices.
China, India, Russia and Gulf countries strengthen their reserves
The official also mentioned the growing interest of several countries, notably China, India, Russia and the Gulf states, in increasing their reserves and investments in gold.
This trend is explained in particular by the desire to hedge against fluctuations in international economic and financial spheres.
A will to reduce dependence on the dollar
According to Hatem Ben Youssef, some international economic blocs are also looking to reduce their dependence on the dollar in commercial exchanges and explore other alternatives.
In this framework, gold could play an increased role as a tool of valuation or reference in certain economic transactions.
Hatem Ben Youssef advises buying now
Facing the prospects of continued price increases, Hatem Ben Youssef advised citizens wishing to acquire gold to proceed with their purchases in the current period.
He believes that market indicators point to the continuation of the upward trend in the coming months.
