The dramatic price rise has transformed Central Asia, a corner of the world heavily dependent on gold. While the region’s governments often attribute recent rises in living standards and hot economies to their reforms, it has all been underwritten to varying degrees by rising gold prices. The primary way that the gold price surge has helped Central Asian economies is by increasing the value of state reserves, which boosts investor confidence and makes it cheaper to borrow, Galdini said. The rise in gold prices have also contributed directly to state coffers through tax revenues. But the gold price surge has not really changed conditions in his home village, a 15-minute walk from the mine.