Tunisia's gold market is going through a difficult period, marked by stagnation and a significant decline in demand. Despite gold's status as a safe-haven asset attracting investors worldwide, the Tunisian jewelry market is struggling. The surge in gold prices, combined with decreased purchasing power and the depreciation of the dinar against the dollar, has reduced households' ability to buy gold jewelry.
According to Hatem Ben Youssef, president of the Chambre syndicale des bijoutiers, the situation in the sector is concerning. In an interview with Assabah, he stated that the stagnation has worsened this year, particularly when the price of gold per gram approached 500 dinars in the first months of 2026. Ben Youssef, with fifty years of experience in the sector, has never seen such a significant price increase.
The recent decline in international gold prices has limited impact on traders, as their primary capital consists of existing jewelry stocks. Ben Youssef views the current price drop as a natural correction after a period of significant growth, rather than a sign of a sustained market collapse. Data from the Bourse de l'or (Souk El Berka) shows that the gram of gold is currently trading around 340 dinars for 18 carats and 380 dinars for 24 carats.
The current price of scrap gold is around 300 dinars per gram. Despite the challenges faced by the Tunisian gold market, international forecasts for gold price trends are mixed. Some experts predict a continued decline, while others see the current drop as a correction after previous significant increases.
Several financial institutions, including HSBC, believe that the fundamentals of the gold market remain solid in the medium and long term. Factors such as state debt, budget deficits, and global economic uncertainties continue to support the appeal of gold. In the third quarter of 2026, central banks and official institutions increased their gold reserves by 321 tonnes, a 42% increase from the previous year.
The World Gold Council reports that gold prices are closely tied to international economic and geopolitical developments. Professionals advise consumers to prioritize authorized jewelry stores and verify the presence of a hallmark and a card specifying the gold title to protect against fraud and parallel market practices.
As the gold market continues to face challenges in Tunisia, experts emphasize the importance of purchasing gold from reputable sources. The stagnation in Tunisia's gold market contrasts with the positive outlook for gold globally, driven by its safe-haven status and increasing demand from central banks and investors.
Key points
- The Tunisian gold market is experiencing stagnation due to high prices and decreased purchasing power.
- Despite the challenges, international forecasts for gold price trends remain positive in the medium and long term.
- Experts advise consumers to prioritize authorized jewelry stores and verify the authenticity of gold purchases.
