Gaza: gold market flourishes despite Israel's "blockage"

Smuggling Tunnels, Rafah, Gaza

In fact, gold transactions have flourished:

Abdel Aziz, another jeweler, explains that the “gold is entering Gaza via the smuggling tunnels and the travelers coming through the Erez road”

Hundreds of smuggling tunnels have been built by the Gazans throughout the Egyptian frontier to avoid the blockage and import goods, oil and weapons.

“There are some who have bought gold as an inversion, as they can’t build a bank nor use the ones which exist here, because of their liquidity problems (…) Something that has saved the gold market”.

Mohammed Younes, another 36-year-old jeweler, agrees with them: “The bank crisis has helped us, the citizens are investing today their money in buying gold as they prefer that to putting their money on the banks”.


But aren’t we told Palestinians don’t have anything, that they are nearly dying of hunger? And yet, we see here they have a growing gold market going on. ūüėĮ

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