Gold Price Today in Cambodia in Cambodian riel (KHR)

How Gold Price is Determined in Cambodia

The price of gold in Cambodia is influenced by various factors, reflecting both local and global market dynamics. One of the primary determinants is the international gold price, which fluctuates based on global demand and supply conditions, investor behavior, and geopolitical factors. As gold is traded in US dollars, any changes in the strength of the dollar will also affect gold prices locally.

Additionally, local economic conditions play a crucial role in shaping gold prices in Cambodia. Factors such as inflation, interest rates, and currency stability can impact investor sentiment and, consequently, gold demand. When the economy is unstable, many Cambodians turn to gold as a safe-haven asset, driving up its price.

The Cambodian market for gold also features local jewelers and traders who set prices based on both the prevailing international rates and their own operational costs. This localized approach can result in variations in gold prices across different regions. Furthermore, government regulations and taxes can also have an impact on the price at which gold is sold to consumers.

Price of Gold Bullion in Cambodia in Cambodian riel

• The price of gold bullion 5 grams 24K in Cambodia: 1,772,107.15 Cambodian riel
• The price of gold bullion 10 grams 24K in Cambodia: 3,544,214.30 Cambodian riel
• The price of gold bullion 20 grams 24K in Cambodia: 7,088,428.59 Cambodian riel
• The price of gold bullion 50 grams 24K in Cambodia: 17,721,071.48 Cambodian riel
• The price of gold bullion 100 grams 24K in Cambodia: 35,442,142.97 Cambodian riel
• The price of gold bullion 250 grams 24K in Cambodia: 88,605,357.42 Cambodian riel
• The price of gold bullion 500 grams 24K in Cambodia: 177,210,714.85 Cambodian riel
• The price of gold bullion 1000 grams 24K in Cambodia: 354,421,429.69 Cambodian riel

Predictions for Gold Prices in Cambodia

The Cambodian gold market has been experiencing fluctuations influenced by various global and local factors. Analysts predict that gold prices will continue to be volatile in the upcoming months. The primary drivers of these predictions include changes in global economic conditions, inflation rates, and currency strength.

Global uncertainties, such as geopolitical tensions and economic slowdowns, typically lead to increased demand for gold as a safe-haven asset. In contrast, improving economic indicators can reduce this demand, potentially leading to a drop in prices. Furthermore, the strength of the US dollar plays a crucial role, as a stronger dollar often leads to lower gold prices due to its inverse relationship.

In Cambodia specifically, local demand for gold remains high, particularly in traditional ceremonies and as an investment vehicle. This sustained demand may help cushion the impact of global price fluctuations. As Cambodia continues to develop its economy, the local gold market could see increased participation from both investors and consumers, further influencing prices.

Overall, while predictions remain uncertain, gold is likely to remain a key component of Cambodia's financial landscape.

Gold price in Cambodia in October 2024 in Cambodian riel

Gold Making Charges in Cambodia

In Cambodia, the gold making charges, which refer to the fees for converting raw gold into finished jewelry, typically range from 10% to 20% of the gram price of gold. These charges can vary based on several factors, including the complexity of the design, the jeweler's reputation, and the quality of craftsmanship.

For instance, if the gram price of gold is approximately 4,000,000 Cambodian Riels (KHR), the making charges could amount to around 400,000 to 800,000 KHR per gram. Thus, customers may find themselves paying between 4,400,000 to 4,800,000 KHR per gram for finished gold jewelry, depending on the additional costs.

These making charges are an essential part of the jewelry business in Cambodia, influencing consumer decisions and the overall market dynamics. Additionally, buyers should be aware that these fees can also affect the resale value of their gold items, as the intrinsic value of the gold itself may be less than the total price paid when considering these charges.