Gold Prices in Tunisia Reach Record High
Gold prices in Tunisia have reached a record high in recent days, influenced by global prices that have exceeded $3,800 per ounce. This situation has a direct impact on the local market, as confirmed by Hatem Ben Youssef, President of the National Syndicate Chamber of Jewelers, in a statement to "Mosaïque" radio.
Impact on Local Market
In a statement to "Mosaïque" radio, Ben Youssef explained that the price increase directly affects the profit margin of merchants, which generally does not exceed 2.5% after deducting fees. He specified that the surge in prices sometimes forces merchants to sell gold at a price lower than its real value to compensate for their losses. He added that the closure of the Central Guarantee Office (or Poinçon) exacerbates the crisis, as merchants cannot return gold and calculate its value in a timely manner, leading to negative effects on market dynamics.
Decreased Demand and Unregulated Transactions
The President of the Syndicate Chamber emphasized that the high cost of gold has impacted demand in the market, especially during the wedding season, where consumers have become more cautious and reduced the purchase of large gold pieces. He also noted that some buying and selling transactions take place outside of official surveillance, which could complicate market tracking and regulation.
Solution to the Crisis
Ben Youssef affirmed that the solution lies in the reopening of the Central Guarantee Office, so that buying and selling operations can take place in transparency and within a regulatory framework, allowing citizens to guarantee their rights when buying gold. He insisted that merchants would then be able to sell at more stable prices, which would revive market activity and limit speculation.
