Gold prices in Tunisia have reached record highs, fuelled by a surge on global markets where the price of gold has surpassed $3,800 per ounce.
This sharp increase has placed intense pressure on local jewelers, with profit margins shrinking to below 2.5% after expenses. Hatem Ben Youssef, president of the National Union of Jewelers, revealed that some traders are even forced to sell below actual value to cushion losses.
The situation has been worsened by the closure of the Central Guarantee Office (Poinçon), which has disrupted real-time valuation and returns, thereby weakening the sector’s operational stability.
The price surge has dampened consumer demand during the traditionally busy wedding season, with many buyers opting for smaller, more affordable gold items. Ben Youssef also raised concerns about unregulated transactions taking place outside official oversight, increasing speculation risks. He called for the immediate reopening of the Central Guarantee Office to restore transparency, stabilise prices, and revive market confidence. Jewelers believe this step is essential to protect consumers’ rights and rejuvenate Tunisia’s gold trade amid global economic pressures.