Sudan’s Gold Market Defies Global Trends Amid Export Expansion
Khartoum, Sudan – March 26, 2026 – In a notable divergence from international market trends, Sudanese gold prices have experienced a significant upswing. This domestic surge occurs as the nation’s Gold Exporters Union prepares to launch shipments to new overseas destinations next week, signalling an ambitious expansion of its reach in the global precious metals trade.
Mutasim Mohammed Saleh, the Secretary-General of the Gold Exporters Union, highlighted the contrasting economic landscapes influencing the gold market. Globally, he observed a downward trajectory in gold prices, largely attributed to prevailing economic tensions. Saleh specifically pointed to developments within the Arabian Gulf region as a key factor impacting established trade flows and the stability of energy supplies, which in turn ripple through commodity markets.
The global decline in gold prices has been further complicated by a concurrent rise in oil prices. This dynamic has created a bifurcated investor sentiment, leading to a mix of profit-taking strategies and cautious anticipation. Such divergent behaviours have resulted in pronounced fluctuations in gold rates across international exchanges.
Domestic Price Surge Contrasts Global Downturn
Against this backdrop of global volatility and decline, Sudan’s local gold market has charted a different course. The price of 21-carat gold, a widely recognized benchmark, has climbed to approximately 455,000 Sudanese pounds per gram. This figure stands in stark contrast to the global equivalent, which hovers around 440,000 Sudanese pounds per gram.
The primary driver behind this domestic price escalation is a discernible decrease in the available supply. A substantial number of gold miners have temporarily halted their operations. This pause is directly linked to the observance of Ramadan and the subsequent Eid al-Fitr holiday, traditional periods of religious observance and familial gatherings that often see a reduction in industrial and commercial activities.
New Export Markets on the Horizon
Adding to the momentum in Sudan’s gold sector, the Gold Exporters Union has announced that actual export operations to newly identified international markets are slated to commence next week. This strategic move aims to broaden Sudan’s export base and tap into new avenues for its valuable commodity.
Currently, Sudan’s gold exports are predominantly directed towards the United Arab Emirates. However, the country also maintains established trade relationships with a range of other nations, including Oman, Qatar, Turkey, Egypt, and several countries across the African continent. The inclusion of new markets is expected to further diversify these export destinations.
Addressing the Challenge of Gold Smuggling
Despite the positive developments in official exports and domestic pricing, the issue of gold smuggling remains a significant concern for the Sudanese economy. Technical estimates suggest a considerable portion of the nation’s gold production, ranging between 48% and 60%, is illicitly channeled through informal and unregistered networks. This leakage represents a substantial loss of potential revenue for the government and hinders accurate accounting of the country’s true gold output.
Previous statements from the Ministry of Finance have shed light on the scale of gold production. In 2025, the nation’s gold production was reported to be approximately 70 tons. However, official exports during the same period fell considerably short, not exceeding 20 tons. This disparity underscores the extent of the smuggling challenge.
Further data from the Central Bank of Sudan corroborates these figures, indicating that the country officially exported 14.7 tons of gold in 2025. This volume generated revenue amounting to $1.536 billion. The economic significance of gold for Sudan cannot be overstated; the precious metal currently constitutes over 58% of the country’s total export earnings, highlighting its critical role in the national economy. The expansion into new export markets, coupled with efforts to curb smuggling, will be crucial for maximizing the benefits derived from this vital resource.
