Sudan’s Goldsmiths Division Spell Out Causes for Global Drop in Gold Prices

Sudanhorizon– Nazik Shammam

The official spokesperson for the Sudan Goldsmiths’ Division, Atef Ahmed Abdel Qader, has revealed the reasons behind the global drop in gold prices.
In an exclusive statement to Sudanhorizon Abdel Qader explained that the withdrawal of liquidity from gold and its shift towards oil is what led to the significant decrease in gold prices, which is expected to continue.

The spokesperson stated that gold is linked to global political and geoeconomic decisions, which greatly affect its price. He pointed out that these decreases impact local markets because they are entirely dependent on global marketing.

He added that one of the negative impacts on gold mining is the rise in petroleum prices, which has led to the global drop in gold prices. On the positive side, he noted, is that jewelry prices will decrease, which will benefit buyers.

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