Gold Prices Surge in Yemen, Creating a 200% Divide Between Cities
Aden, Yemen – A dramatic divergence in gold prices is gripping Yemen, wiht a single gram of 21-carat gold reaching 192,400 Yemeni riyals in Aden while selling for 61,500 riyals in Sanaa – a price gap exceeding 200%. The escalating cost is triggering an economic crisis, paralyzing traditional practices like marriage planning and disproportionately impacting Yemen’s middle class.
The disparity stems from Yemen’s ongoing conflict, which began in 2014, and the resulting fragmentation of the nation’s economic systems. Two distinct monetary authorities have emerged, coupled with fluctuating global exchange rates and the impact of economic sanctions. Experts draw parallels to the economic division experienced during the Cold War era between East and West Germany, where identical goods were priced vastly differently.
“One pound of gold in aden can buy three pounds of gold in Sanaa,” highlighting the extreme economic realities facing Yemeni citizens. The situation is fueling a rise in black market activity and prompting consumers to seek alternative options, while traders capitalize on the volatile market.
The economic fallout is already visible in daily life, with many Yemenis forced to postpone or cancel wedding plans. Experts predict the price gap will persist without meaningful political intervention to unify the market. Consumers are urged to exercise caution and avoid impulsive purchases as the future of Yemen’s economy remains deeply uncertain.
