Middle East Conflict Paralyzes Gold Trade in North Kivu

Butembo, North Kivu - March 12, 2026 - The war between the US-Israeli coalition and Iran is disrupting North Kivu’s gold market, leaving traders and miners struggling. Butembo, the main trading hub for artisanal gold from North Kivu and neighboring provinces, has seen a sharp slowdown in operations as Dubai-the key destination for the region’s gold-reduces its purchases. The crisis has left local gold buying offices short on cash and dependent on credit. Merchants who usually travel to Dubai to purchase goods have suspended their trips, further tightening the flow of funds in the region. Artisanal miners are paying the heaviest price. In Manguredjipa, the price of gold per gram has fallen from $178 to between $90 and $100 since the outbreak of the conflict. The collapse in prices is severely affecting communities that rely almost entirely on artisanal mining for their livelihoods. The disruption highlights the vulnerability of North Kivu’s gold trade, which depends heavily on international markets, and shows how geopolitical crises abroad can have immediate, devastating effects on local economies.