Yemen Faces Extreme Economic Disparity as gold Price Soars to 1.5 Million Riyals in Aden
Aden, Yemen – A staggering price difference for gold is exacerbating economic hardship in Yemen, with a single pound of gold currently selling for between 1,463 and 1,495 million Yemeni riyals in Aden, while in Sanaa, the same commodity costs between 480 and 488 thousand riyals. This represents a price variation of over 300%, or more than one million riyals, creating a devastating disparity for citizens across the war-torn nation.
The dramatic divergence in gold prices is impacting everyday life, particularly for those planning marriages. Thousands of Yemeni brides are reportedly postponing thier weddings due to the unaffordability of the traditional gold dowry. This crisis underscores the deepening economic fragmentation within Yemen, fueled by years of conflict, a fractured currency, and a collapsing economy. “In the history of Yemen, we have never witnessed price differences of such a devastating magnitude,” stated one economic analyst.
The root cause of this extreme price gap lies in the division of the Yemeni currency following years of war and the emergence of multiple monetary authorities. Coupled with an ongoing economic blockade and the breakdown of key institutions, these factors have created a volatile and unsustainable economic surroundings.Experts warn that, compared to historical periods of inflation elsewhere, Yemen faces the potential for even greater economic collapse without urgent intervention.
The impact extends beyond wedding plans, leading to a decline in social events and widespread public frustration. Families are being forced to adapt to the new economic reality, while calls mount for immediate solutions to the cash crisis. The essential question facing Yemenis is how long thay can endure this escalating economic hardship.
