Rising Gold Prices: What Lies Behind the Shine?

In cooperation with the Austrian Foundation for Development Research (ÖFSE), the Austrian Centre for Peace (ACP), Dreikönigsaktion (DKA) and the Vienna Institute for International Dialogue and Cooperation (VIDC)

Who benefits from the surge in the price of gold — and who bears the costs?

Gold is seen as a symbol of security, wealth and stability. In 2026, its price has reached unprecedented levels, driven by financial investment, geopolitical uncertainty and large-scale purchases by central banks. High prices are intensifying pressure to expand mining operations, with significant consequences for communities and the environment in gold-mining regions.

Who benefits from the gold boom, and how much of the additional wealth remains in producing countries and reaches mining communities? What happens when rising prices fuel illegal mining, environmental degradation and conflicts over land and resources? How can producing countries ensure that resource extraction generates greater benefits whilst reducing its social and environmental costs? And what responsibilities do Austria and the EU have in promoting a more transparent, equitable and sustainable gold sector?

The event looks beyond the glitter of gold and examines the realities of its extraction and trade. It brings together perspectives on the experiences of mining communities in Ghana and neighbouring countries, explores the links between gold extraction, illicit trade and conflict, and the promises of transparency in global gold supply chains—alongside the question of what can actually be traced and verified, and what remains hidden.

Opening Remarks:
Irene Horejs, Former EU Ambassador, curator at the Bruno Kreisky Forum specialising in Africa and Latin America, as well as in development and humanitarian policy, Curator at the Bruno Kreisky Forum

Hannah Owusu-Koranteng, Associate Executive Director of Wacam, one of Ghana’s leading community-based human rights and environmental mining advocacy organisations.
Sophia Stanger is a Senior Project Manager at the Austrian Centre for Peace (ACP), specialising in environmental security and gold.

Matthieu Bolay is a social anthropologist and an associate professor at the University of Applied Sciences and Arts in Geneva.
Dan Sanaren is a Research and Data Coordinator for the Conflict Resolution Programme in West Africa at The Carter Centre, and a PhD candidate at the CNRS, affiliated with CERI-Sciences Po.  

Moderator:
Karin Küblböck, is a senior researcher at the Austrian Foundation for Development Research, specialising in resource policies and stakeholder engagement.