Sudanese Gold Market Defies Global Trends Amidst Export Expansion
Khartoum, Sudan – March 26, 2026 – In a notable divergence from international trends, the Sudanese gold market has experienced a significant surge in local prices, even as global markets witness a downturn. This domestic resilience is occurring against the backdrop of an announcement from the Gold Exporters Union detailing the commencement of shipments to new international destinations next week.
Mutasim Mohammed Saleh, Secretary-General of the Gold Exporters Union, elaborated on the global economic climate, explaining that international gold prices have been on a downward trajectory. He attributed this decline to prevailing economic tensions and shifts in trade flows and energy supplies, particularly those influenced by developments in the Arabian Gulf.
“The global decline in gold prices has occurred concurrently with a rise in oil prices,” Saleh stated. “This has led to a complex investor behaviour, with some engaging in profit-taking while others adopt a cautious stance, resulting in sharp fluctuations in gold rates worldwide.”
However, this global bearish sentiment has not permeated the Sudanese domestic market. Instead, local prices have seen a substantial increase. The price of 21-carat gold in Sudan has reached approximately 455,000 Sudanese pounds per gram, which equates to roughly $134.50. This stands in contrast to the global equivalent price of around 440,000 Sudanese pounds per gram, or approximately $130.06.
The primary driver behind this surge in domestic gold prices has been identified as a contraction in supply. A considerable number of gold miners have reportedly suspended their operations. This hiatus is largely attributed to the observance of Ramadan and the subsequent Eid al-Fitr holiday, periods during which artisanal and small-scale mining activities often decrease.
The Gold Exporters Union official further confirmed that actual export operations to these newly targeted international markets are slated to commence imminently, within the coming week. Currently, Sudan’s gold exports are predominantly directed towards the United Arab Emirates. Beyond the UAE, the nation also exports to a range of other markets, including Oman, Qatar, Turkey, Egypt, and several other African countries.
The dynamics of Sudan’s gold sector are further complicated by the issue of informal trade. Technical estimates suggest that a substantial portion of the country’s gold production, ranging between 48% and 60%, is trafficked through informal channels, bypassing official export routes and revenue collection mechanisms.
Previous statements from the Minister of Finance, Gibril Ibrahim, highlighted the scale of gold production. In 2025, it was announced that Sudan’s gold output reached an estimated 70 tons. However, the volume of officially recorded exports for the same year fell significantly short, not exceeding 20 tons.
Data from the Central Bank of Sudan provides a more detailed picture of official trade. According to the bank’s report, the country officially exported 14.7 tons of gold during 2025. This volume generated substantial revenue, amounting to $1.536 billion. The significance of gold to Sudan’s economy is underscored by its substantial contribution to the nation’s export earnings, currently accounting for over 58% of the country’s total exports. The ongoing efforts to expand export markets and potentially formalize more of the trade are crucial for maximizing the economic benefits derived from this vital natural resource.
