By Dilsoz Youssef
HASAKAH, Syria (North Press) – In the village of Tel Nasri in the countryside of Hasakah, Northeast Syria, 23-year-old Mustafa Azzouz is unable to marry, with his monthly salary barely enough to buy a single gram of gold.
Traditions in his region require that the groom buys gold for the wedding, but like many young Syrians, Azzouz’s $80-a-month earnings as a day laborer only cover his family’s basic needs, especially with his father’s heart condition.
Supporting his family of eight alongside his younger brother, Azzouz says saving for marriage means giving up many things. “It would take two or three years to buy just a ring or bracelet. If this keeps up, I might be 30 before I can afford to marry,” he told North Press.
Skyrocketing prices
Gold prices have surged in Syrian markets amid the Syrian pound’s devaluation against foreign currencies. The price of 21-carat gold has hit $78 per gram, an increase of over $20 since October, or nearly $900 per ounce.
For many Syrians, gold is now a luxury they cannot afford, pushing marriage further out of reach as incomes barely cover daily essentials.
Employees and workers in the region of the Autonomous Administration of North and East Syria (AANES) earn an average of $70 per month, while those in government-controlled areas receive roughly $35. This means even a single gram of gold would require saving their entire salary for two months.
Muhammad Ali, a restaurant worker in Hasakah, faces similar struggles. His monthly salary of 1.5 million SYP ($100) barely covers food and essentials for his family. “I sold my wife’s gold 12 years ago due to financial difficulties, but now, with prices so high, I could not buy even a quarter of what I sold,” Ali shared.
Sales slump in gold shops
The global surge in gold prices, driven by ongoing wars, has led to stagnating sales in gold markets across Syria. Predictions suggest prices could reach $100 per gram next year.
In Hasakah’s bustling Mufti market, jeweler Muhammad Sayed Alo reports that business has been halved since 2024, with prices rising by more than $20 per gram. He noted that couples preparing for marriage used to buy between 40 and 60 grams of gold, but now they can afford only half that amount.
Sayed Alo explains that some people are selling their gold to start businesses or cover living expenses, making it increasingly difficult for them to buy back their jewelry.
Gold as a safe haven
With the soaring prices, economic experts point to gold as a secure investment for long-term savings over unstable paper currencies.
Amad Fatemi, head of the Precious Metals Center, a syndicate affiliated with AANES, says that the global market heavily influences local gold prices, putting further strain on Syrians amid the Syrian pound’s depreciation. “Gold is a safe haven,” he told North Press, “a form of wealth that retains value over time, making it ideal for future savings.”
As global conflicts continue to drive up gold prices, Syrians are left in a tough spot, their dreams of marriage fading under the weight of economic hardships.