DR1 Daily News - Dominican Republic

A troy ounce of gold for December futures contracts hit a record high of US$3,622.80 on the global market today, a jump of US$30.10 from the previous trading day. The average price settled at US$3,562.30.

The continued rise in gold prices means more revenues as the Dominican Republic is a major gold exporter. Likewise, a significant windfall for public finances comes with the increase.

As a major gold exporter, the Dominican Republic stands to gain from this price surge.

The government anticipates that these higher prices will lead to a substantial increase in tax revenue for 2025, with a full impact expected on income tax (ISR) and net profit participation (PUN). The government’s 2025 annual budget had projected income based on a much lower gold price of US$2,500 per ounce, as reported in Listin Diario.

The expansion of Barrick Gold’s plant in the country is set to keep...