Gold Price Today in Ghana in Ghana cedi (GHS)

Tuesday, 15 October 2024, 4:10 PM

Gold ounce price in Ghana is 42,418.15 Ghana cedi per ounce, Gold gram price is 1,363.93 Ghana cedi per gram karat 24, 1,250.27 Ghana cedi per gram karat 22, 1,193.44 Ghana cedi per gram karat 21, 1,022.95 Ghana cedi per gram karat 18.

How Gold Price is Determined in Ghana

The determination of gold prices in Ghana, one of Africa's leading gold producers, is influenced by a combination of global and local factors. Primarily, the international gold market sets the benchmark price, which is influenced by global supply and demand, currency fluctuations, and economic conditions. As the price of gold is traded on international commodity exchanges, factors such as inflation rates, interest rates, and geopolitical stability play crucial roles.

In addition to global influences, local factors also affect gold prices in Ghana. The local mining sector dynamics, including production levels and operational costs, contribute significantly to pricing. Ghana's government policies, taxation, and regulatory frameworks impact the overall profitability of gold mining, which can lead to variations in local prices.

Moreover, local market demand, primarily from jewelers and artisans, influences prices. When demand increases within Ghana, it can drive up costs. Furthermore, artisanal mining activities and their informal nature can lead to discrepancies in pricing across regions. Overall, gold pricing in Ghana represents a complex interplay of global trends and local economic conditions.

Price of Gold Bullion in Ghana in Ghana cedi

• The price of gold bullion 5 grams 24K in Ghana: 6,819.64 Ghana cedi
• The price of gold bullion 10 grams 24K in Ghana: 13,639.28 Ghana cedi
• The price of gold bullion 20 grams 24K in Ghana: 27,278.55 Ghana cedi
• The price of gold bullion 50 grams 24K in Ghana: 68,196.38 Ghana cedi
• The price of gold bullion 100 grams 24K in Ghana: 136,392.77 Ghana cedi
• The price of gold bullion 250 grams 24K in Ghana: 340,981.91 Ghana cedi
• The price of gold bullion 500 grams 24K in Ghana: 681,963.83 Ghana cedi
• The price of gold bullion 1000 grams 24K in Ghana: 1,363,927.65 Ghana cedi

Predictions for Gold Prices in Ghana

The gold market in Ghana, one of Africa's largest producers, has been subject to various factors influencing its price trajectory. In recent years, the demand for gold has surged globally, leading to optimistic predictions about its future price in Ghana. Economic analysts suggest that the instability in financial markets and rising inflation rates worldwide could drive investors towards gold as a safe haven asset. Strong demand from jewelry manufacturing and technology sectors also supports a robust market for gold.

Additionally, geopolitical tensions and government policies in key gold-consuming countries may further impact prices. As Ghana continues to enhance its mining infrastructure and policies, including increased transparency and investment in local mining communities, this can improve production efficiency, potentially stabilizing prices domestically. However, fluctuations in the international market often dictate local prices. Therefore, while predictions for gold prices in Ghana lean towards an upward trend, stakeholders must remain vigilant about global economic conditions and local production changes that could affect these forecasts.

In conclusion, the outlook for gold prices in Ghana appears positive in the short to medium term, but it is essential for investors and policymakers to stay informed about worldwide economic shifts.

Gold price in Ghana in October 2024 in Ghana cedi

Gold Making Charges in Ghana

The gold market in Ghana is characterized by various charges associated with the processing and making of gold jewelry. One significant charge is the gold making charge, which is typically expressed as a percentage of the gram price of gold. In Ghana, this percentage can vary widely depending on the jeweler and the intricacy of the design, often ranging from 5% to 15% of the current gold price per gram.

For instance, if the price of gold is approximately 1,500 Ghanaian Cedis (GHS) per gram, a making charge of, say, 10% would result in an additional cost of about 150 GHS per gram for the crafting of the jewelry. Thus, the total cost for handmade gold jewelry could exceed the base gold price significantly when accounting for these making charges.

Consumers should be aware of these charges as they affect the overall price of gold products. It is advisable to inquire about the gold making charges before making a purchase, as this can lead to savings and a better understanding of the overall investment in gold jewelry.