Gold Price Today in Guyana in Guyanese dollar (GYD)

Friday, 11 October 2024, 3:09 PM

Gold ounce price in Guyana is 555,286.47 Guyanese dollar per ounce, Gold gram price is 17,854.87 Guyanese dollar per gram karat 24, 16,366.96 Guyanese dollar per gram karat 22, 15,623.01 Guyanese dollar per gram karat 21, 13,391.15 Guyanese dollar per gram karat 18.

How Gold Price is Determined in Guyana

The price of gold in Guyana, as in other countries, is influenced by a variety of factors that are part of the global marketplace. One of the primary determinants is the global market price, which fluctuates based on supply and demand, geopolitical stability, and economic indicators. Gold is often seen as a safe-haven asset; thus, during times of economic uncertainty, demand tends to rise, driving prices up.

Additionally, local factors play a significant role. The cost of production in Guyana, including labor, equipment, and operational expenses, impacts the price at which local miners can sell their gold. The presence of various mining companies in the region also affects local supply, as competition can lead to price adjustments.

Exchange rates between the Guyanese dollar and other currencies, especially the US dollar, further influence gold prices. A stronger dollar can lead to lower gold prices in local terms, while a weaker dollar typically results in higher local prices.

Lastly, government policies regard taxation and mining regulations can also affect how much miners are willing to sell gold for, impacting overall market prices within the country.

Price of Gold Bullion in Guyana in Guyanese dollar

• The price of gold bullion 5 grams 24K in Guyana: 89,274.35 Guyanese dollar
• The price of gold bullion 10 grams 24K in Guyana: 178,548.70 Guyanese dollar
• The price of gold bullion 20 grams 24K in Guyana: 357,097.41 Guyanese dollar
• The price of gold bullion 50 grams 24K in Guyana: 892,743.52 Guyanese dollar
• The price of gold bullion 100 grams 24K in Guyana: 1,785,487.05 Guyanese dollar
• The price of gold bullion 250 grams 24K in Guyana: 4,463,717.62 Guyanese dollar
• The price of gold bullion 500 grams 24K in Guyana: 8,927,435.24 Guyanese dollar
• The price of gold bullion 1000 grams 24K in Guyana: 17,854,870.49 Guyanese dollar

Predictions for Gold Prices in Guyana

The gold market has shown significant fluctuations over the years, and predictions for gold prices in Guyana are no exception. As the country continues to enhance its mining infrastructure and attract foreign investments, analysts anticipate that gold prices may experience upward pressure due to increased demand from both local and international markets.

Factors such as global economic stability, inflation rates, and geopolitical tensions will play critical roles in shaping the future of gold prices. Currently, many experts are suggesting that if inflation remains high and the global economy continues to face challenges, gold can emerge as a safe-haven asset, driving prices higher. In Guyana, the government's focus on expanding mining operations and improving regulatory frameworks could further boost production, which may lead to fluctuating prices.

Moreover, as environmental concerns rise globally, the demand for sustainably sourced gold could impact the market dynamics in Guyana. Investors and miners will need to adapt to these trends, balancing profitability with responsible mining practices to ensure a sustainable future for the gold industry in the region.

Gold price in Guyana in October 2024 in Guyanese dollar