As the economic crisis in Sudan is intensifying, gold business is booming as more people exchange the precious metal for cash. Like in most of the developing and least developed countries, gold is one of the forms in which people save because of the common belief that gold prices will not dither since the demand for the yellow metal is perennial. Now many people are selling off gold for their survival. The tensions in the country are mounting since the ouster of President Omar al-Bashir. The flip side is that the tensions are not showing any signs of cooling down, despite the international efforts to bring thaw among the warring factions. The heightened business in gold is not leading to more profit since due to glut in the market, prices have come down and people are queuing up in front of the jeweller shops with more gold than the traders can buy. Gold prices before the tensions erupted were at 3500 (Sudanese pounds) per ounce. That has plummeted to levels ranging between 2700 and 2800 (Sudanese pounds). In the meantime, violent clashes between Sudan’s military council and pro-democracy protesters are getting escalated. In the given situation, many believe that a quick recovery of the economy is a far cry.
