Sudan raw gold prices hit record high amid currency slump and global surge

August 9, 2026 (KHARTOUM) – Sudanese raw gold prices have breached 700,000 Sudanese pounds per gram for the first time as global market gains and severe domestic currency depreciation push local prices to record highs, a trade official said on Sunday.

The sharp rise comes as Sudan’s war-devastated economy struggles with unprecedented currency devaluation, with the U.S. dollar trading above 6,000 Sudanese pounds on the parallel market alongside soaring inflation.

Moatamad Mohamed Saleh, Secretary-General of the Gold Exporters Chamber, told Sudan Tribune that the local price hike was directly tied to international market trends, where gold surged by more than $250 per ounce in a short period to close near $4,340 per ounce.

Raw gold traded between 702,000 and 703,000 pounds per gram across local markets, while the state-run Sudan Gold Refinery pegged its buying price at approximately 671,000 pounds per gram.

Saleh said the global price increase affected every stage of the trade, from mining zones and domestic markets to export operations.

Gold exports represent Sudan’s primary source of foreign currency, essential for financing critical imports including fuel and food supplies amid ongoing military conflict.

Despite current high prices, Saleh said global rates could face downward pressure as investors react to evolving geopolitical developments, noting that gold’s status as a safe-haven asset leaves prices vulnerable to sharp swings during times of crisis.