macro

Global Safe-Haven Rush Pushes Gold Prices to N190,000 per Gram in Nigeria Amid US-Iran Tensions - streamlinefeed.co.ke

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DW NOTE

Nigeria's gold premium tells you exactly two things: naira weakness and capital flight. The global "safe-haven rush" the headline claims would push gold to new highs in dollar terms. It hasn't — gold is down 17% from January. What you're seeing at N190,000 per gram is Nigerians paying any price to hold something that isn't their own currency.

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Global Safe-Haven Rush Pushes Gold Prices to N190,000 per Gram in Nigeria Amid US-Iran Tensions - streamlinefeed.co.ke

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