Global Gold and Silver Prices Plummet Amid Regional Turmoil
The price of gold and silver has dropped significantly in both global markets and Afghanistan's domestic market. According to the Afghanistan Goldsmiths Union, over the past week the price of one ounce of gold has fallen from $5,200 to $4,100.
Meanwhile, the price of one ounce of silver has decreased by $92, reaching around $61 in global markets. This decline is attributed to recent regional developments and fluctuations in global markets.
Mohammad Bashir Ehsanzada, a representative of the union, said: “Since wars began, we have seen a steady decline in gold and silver prices, while physical currency such as the dollar has increased. Powerful actors in the world influence these trends, adjusting prices in line with war-related costs, sometimes lowering them and sometimes raising them.”
Some Kabul residents have welcomed the price drop, saying it's made it easier for people to buy gold and silver.