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 gold production above 800,000 ounces per year.
Meanwhile, economist and former diplomat Luis Manuel Piantini has suggested a gold-related long-term solution to the Central Bank’s debt. He proposes a political decision for the government to transfer its shares in the Barrick gold mine back to the Central Bank. This would provide the institution with the necessary resources to address its deficit, which has been accumulated from debts in certificates.
Piantini points out that this only requires a political mandate, similar to what occurred when the Central Bank transferred its shares in the former Rosario Dominicana —a subsidiary of the Canadian mining company Placer Dome (now Barrick Gold)— to the government.
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Listin Diario
4 September 2025