The repercussions of geopolitical tensions between the United States, Israel, and Iran are beginning to be felt even in the gold mining sites of Kédougou. In this gold-rich region of southeastern Senegal, traders, gold buyers, and gold miners are facing an unprecedented situation: the difficulty of selling the precious metal on international markets, particularly to Dubai, the main resale hub.

Disrupted trade routes

For several weeks, traders have been struggling to reach Dubai, a hub for the artisanal gold trade. As a result, local transactions are slowing down and cash flow is becoming strained.

"Before, we could sell and quickly leave for Dubai. Today, travel is complicated, partners hesitate and money no longer circulates as before," confides a trader based in Kédougou, under the condition of anonymity.

According to him, the price of a gram of gold, which was trading between 85,000 and 90,000 CFA francs, is likely to fall significantly if the situation persists.

At artisanal mining sites, the anxiety is palpable. The gold miners, who live day to day from their production, cannot afford to keep their gold for long while waiting for a hypothetical stabilization.

“We can’t keep the gold for weeks. We have to eat, pay debts, help our families,” explains Moussa, a gold panner we met at a remote site. “If we’re offered 60,000 francs per gram, some accept because they have no other choice.”

Another worker agrees: "We're selling at a loss. But it's this or go back to the village empty-handed."

Faced with the influx of gold on the local market and the decline in international demand, some traders are anticipating a sharp drop in prices.

"If this continues at this rate, the price per gram will plummet," warns a gold buyer. "When exports are blocked and stocks pile up, prices automatically fall."

For industry players, this situation highlights the strong dependence of the local market on international channels, particularly on the commercial hub of Dubai.

While awaiting a lull in international tensions, gold miners and traders are holding their breath. In Kédougou, gold continues to be extracted from the ground, but its value now seems to hang on the upheavals of global geopolitics.