Gold drops below $5,000 as Nigerian market women outperform crash

Gold prices slid sharply this week, dipping below $5,000 per ounce in what traders described as one of the most dramatic declines in the metals market in decades.

The drop part of a broad sell-off in precious metals saw gold fall more than 12% in the last trading session, while silver plunged around 36%, marking record intraday declines for both commodities.

The sharp reversal comes as investors adjust positions following a prolonged rally in bullion markets, with some analysts attributing the fall to stronger U.S. dollar dynamics and market repositioning ahead of major monetary policy announcements.

Despite the downturn, Nigerian market women often called Africa’s informal economic backbone have reportedly outperformed the cras thanks to long-standing traditional strategies of acquiring and holding gold.

Rather than speculating, many women in local markets regularly purchase small amounts of physical gold jewelry or bullion over time, a practice akin to disciplined cost-averaging investing.

This culturally rooted approach has helped many preserve wealth and access liquidity even as global metals prices swing wildly. In Nigeria’s largest cities, physical gold continues to function as both a store of value and a secondary currency, especially in periods of currency volatility.

Analysts say the combination of disciplined accumulation, deep cultural trust in gold, and immediate liquidity options in local markets has helped these women weather sharp price declines better than some institutional traders.

Market observers will be watching closely to see whether bullion prices stabilise or continue to fluctuate as global economic sentiment evolves and key policy decisions unfold.


Source :Nairamestrics