Gold and Silver Prices Fall Significantly in Kabul Markets Amid Economic Struggles
Goldsmiths in Kabul report a noticeable drop in gold and silver prices across the city’s markets, a decline that has occurred over the past week and is affecting daily trading activities.
According to sellers, the price of one gram of 21-carat gold has fallen from around 10,500 Afghanis to 9,500 Afghanis, while 18-carat gold has decreased from 9,100 Afghanis to 7,700 Afghanis per gram. They say this price drop is similarly observed in various markets throughout Kabul.
Goldsmiths also report a decrease in silver prices. They state that the price of one gram of silver, which was about 280 Afghanis a week ago, has now dropped to nearly 180 Afghanis and continues to decline.
Meanwhile, some Kabul residents say that although gold is considered a social necessity for weddings and celebrations, economic difficulties and reduced purchasing power have led many to sell their existing gold rather than buy more. They express hope that prices will fall further to make repurchasing possible.
Mohammad Bashir Ehsanzada, head of Kabul’s goldsmith union, also stated that since last week, the price of one gram of gold in Kabul markets has decreased by more than 1,000 Afghanis. Market participants believe this situation directly reflects the economic downturn under the Taliban administration and has affected the livelihood of the people.
