The Afghan jewelers union on Thursday said that the gold prices in Afghanistan remain unchanged despite the impact of the COVID-19 pandemic. The union said that the reason that the price did not change was the increase in the gold prices in world markets during the pandemic.
Currently, each gram of gold is being sold for 4,500 Afs in the local markets.
With the start of the COVID-19 crisis and the resulting deadlock that was seen in the gold markets around the world, the price of each ounce of gold increased from $1,500 to $2,500 in the international markets.
“Gold prices are still very high, there has been no significant change, currently each gram of gold was sold for 4,500 Afs,” said Zabiuhllah Habibi, the head of the jewelers union.
“Gold prices are high, but the business is also down because the people do not buy gold because of security threats, even families sell their gold,” said Naseer Ahmad, a jeweler in Kabul.
“When the situation becomes unstable for investment, all the people try to buy gold and keep it because the prices remain unchanged,” said economic analyst Sayed Massoud.
Despite several attempts, the Central Bank officials weren’t available for comment.
Experts say that Afghanistan is one of the countries in the region which has a key role in the gold business, and the gold is being traded through Afghanistan to other countries in the region.