In particular, the rise in gold prices over the past year has attracted the attention of large and small investors. The price rose nearly 76% year over year, reaching an all-time high of $5,600 per ounce on January 30, 2026.
This global movement has particular resonance in restricted market environments such as Venezuela, where citizens have historically taken advantage. Physical gold as a reserve of value against inflation and mistrust in the financial system.
However, while this interest is usually analyzed from a purchasing perspective, the important point comes when selling precious metals.
Purchasing physical gold in Venezuela is relatively easy in mining areas in the south of the country and through certain distribution channels such as jewelry stores, specialized trading companies, and informal traders operating in local markets. However, it is often difficult to settle at a fair and frictionless price.
and spread Although it varies by product and dealer, a 10% difference between the buying and selling prices of physical gold is common in many global markets. For example, in mature markets such as America and Europe, spread 2% to 5% is common for government coins and gold bars, while 10% or more applies for small or retail businesses.
In Venezuela, this situation is further exacerbated by informality, lack of standardized prices, and strict purity verification. For these reasons, selling gold is a slow, opaque, and often expensive process.
To delve deeper into the specificities of this process and understand how metals move in local markets, CriptoNoticias consulted with sector players who operate within this dynamic.
Buying gold in a mining region like Caracas is not the same
Gregory Alejos, an informal gold trader in Caracas, explained that in the south, especially in Bolívar state, “it is possible to get gold directly in the grass, in its natural state.” At the same time, the material “can be melted down and turned into small ingots, making it easier to transport alone.”
Alejos added that in this sector, gold is valued at the same point of sale to determine carat, and transactions are mostly done without cash “as gold is typically used as a medium of exchange.” In Bolívar’s mining region, people pay for purchases at businesses in gold, and even their salaries are paid in gold.
Caracas, the capital of the South American country, on the other hand, has a different vibe. Gold prices vary depending on the carat of the item (10, 14, 18, 22, or 24 carat). It also depends on whether it is new, used, or damaged jewelry.
In this case, the transaction is They are made in dollars, euros, and increasingly USDT stablecoinsdepending on the preferences of buyers and sellers.
“Currently, multiple payment methods are accepted. Some sellers accept bolivars, while others want to avoid bolivars due to exchange rate fluctuations,” he commented.
He added that the market has stopped controlling uniform prices. «Previously there was a single price. “For example, the price of a new garment can be $50 for one gram. Nowadays, prices vary from garment to garment, and each retailer sets its own standards,” he added.
In the local market Clothes that are in poor condition or are difficult to market are known as ‘scrap’.. These pieces are usually purchased at low prices because they are melted down to make new jewelry. Therefore, the market is divided into scrap gold, vintage jewelry, and new jewelry, each with different prices and margins.
In this scenario, it is important to consider that in Venezuela only the sale of gemstones for personal use and the production of licensed miners who compulsorily offer their mining to the Venezuelan Central Bank (BCV) is legal. On the contrary, the private or free sale of mined gold (in bars or melted state), export without official permission, and illegal mining or trade in materials from restricted areas are considered illegal, as the state reserves the extraction of this mineral for itself.
It’s not so easy to make a profit with gold
Bernardo Badachino, a Venezuelan merchant with more than 20 years of experience in the precious metals and jewelry sector, pointed out that: For the general public, access to gold as a formal investment vehicle is very limited.
The reason for this is “insufficient domestic salaries,” he said, adding that “it is not available to the majority of the population as an investment vehicle.”
Experts showed what the historical standards of jewelry in this country are. “In my role as a manufacturer and distributor, I have seen 18-karat gold traditionally used in Venezuela,” he said.
From an investment perspective, Badachino noted that “the average sales yield for gold is about 15%.”
In times of strong growth like the current one, that 15% could be reached in a matter of months (3-12 months). In cases of calm periods or price flattening, it may take several years (from 2 to 5 years or more).
This margin allows investors to cover the difference in purchase and sale prices. However, when you buy a product, you pay more than its resale value (due to manufacturing costs and commercial margins). However, due to the continued rise in metal prices, we have recouped the initial difference and now have a net profit of nearly 15%.
Similarly, he emphasized that: The metal has much higher liquidity than silver“When it is resold out of necessity, it loses a significant portion of its value.” Bernardo added that if you need to sell to a pawn shop or specialty store, 18K gold used in clothing can fetch a high price if it’s in good condition.
“Under these conditions, it could reach around $125 per gram (as of this writing),” Badachino said, referring to the residual value the metal holds as a haven of value to protect assets from depreciation.
There are hidden costs that limit profits
Despite its reputation as a store of value, physical gold has limited liquidity for retail investors. Sellers often deposit their gold with a broker, who then applies a deep discount.
To this are added smelting costs, purity verification, buyer margins, and associated discounts at the time of sale, often motivated by seller urgency.
Additionally, holding physical gold comes with hidden costs that are not always considered at the time of purchase. These include storage, security, transportation, insurance, and physical risks associated with metal theft, loss, or deterioration. All these factors reduce the efficiency of gold as an investment vehicle when instant liquidity is required..
Venezuelans have the opportunity to access tokenized gold
In the face of these limitations, digital alternatives such as tokenized gold have emerged. Among them, there are gold-backed stablecoins such as Tether Gold (XAUT), PAX Gold (PAXG), Matrixdock Gold (XAUM), and Comtech GoldCGO, which represent physical gold that is stored and tokenized on a cryptocurrency network.
These digital representations stand out for their greater liquidity, divisibility (access to tiny fractions of the metal, such as 0.000001 ounces, without purchasing a full ounce), and ease of use compared to traditional physical gold. These eliminate many of the logistical issues associated with transportation, validation, and physical storage.
For Venezuelans, access to this market is entirely possible through exchanges (Binance, Bybit, OKX, etc.). These platforms allow users to exchange bolivars or stablecoins for these gold tokens. Maintain backed capital in precious metals without the friction of domestic physical storage.
The move to digital assets such as tokenized gold (or Bitcoin for those who understand its basics) not only answers the quest for profitability, but also the need for asset protection tools that are resistant to censorship and currency inflation.
