Gold, often considered a stable investment, has recently experienced rapid fluctuations in international markets.
Jewelers in Kabul report that over the past week, the price of gold has declined, affecting both gold markets and their businesses. They also note that ordinary people have suffered losses, as those who had purchased gold are now selling it to avoid further losses.
Jeweler Bahramuddin said: “About ten to fifteen days ago, the price of an ounce (31.10 grams) of gold in international markets was over $1,300. Since Thursday, it dropped to $1,200 per ounce. This has been a major blow to both jewelers and buyers.”
Another jeweler, Syed Noor Shah, added: “Since last Thursday, the price of an ounce of gold fell to $1,200, but today it rose above $1,400. This instability greatly affects our business because when prices are not steady, no one knows at what price to buy or sell. Some gain, some lose.”
The jewelers explained that after international gold prices dropped, many customers came to sell or buy gold. They emphasized that because global gold prices are unstable, neither they nor the buyers know whether it is the right time to purchase or sell gold.
Bahramuddin stated: “It is true that gold is a solid investment, but market chaos still causes some people to incur losses.”
Meanwhile, the Afghanistan Jewelers Association attributes the price fluctuations to political tensions around the world. The increase and decrease in international political conflicts directly influence gold prices.
Haji Bashir Ehsanzada, head of the Afghanistan Jewelers Association, said: “Global political developments have caused gold prices to rise and fall. This instability also negatively impacts our local markets.”
Currently, in Kabul markets, one gram of 22-carat gold is being sold for over 10,000 Afghanis.
