Friday, 11 October 2024, 3:39 PM
Gold Unit | Hong Kong Dollar | U.S. Dollar |
---|---|---|
Gold Ounce | 20,613.66 | 2,652.52 |
Gold Gram Karat 24k | 662.82 | 85.29 |
Gold Gram Karat 22k | 607.14 | 78.13 |
Gold Gram Karat 21k | 579.97 | 74.63 |
Gold Gram Karat 18k | 497.11 | 63.97 |
Gold Gram Karat 14k | 387.75 | 49.89 |
Gold Gram Karat 12k | 331.41 | 42.65 |
Gold Gram Karat 10k | 276.40 | 35.57 |
Gold Gram Karat 9k | 248.56 | 31.98 |
Gold Gram Karat 8k | 220.72 | 28.40 |
In Hong Kong, gold jewelry is often measured in karats, with 24K being the purest form at 99.9% gold. This high purity level makes 24K gold the most sought-after choice among consumers in Hong Kong for investment purposes, as it retains its value well and is considered a status symbol.
Following closely is 22K gold, which contains 91.6% gold content. This karat is favored for jewelry pieces due to its balance of quality and durability, making it suitable for intricate designs while still maintaining a vibrant color.
Next is 18K gold, with a gold content of 75%. It is popular among those who are looking for a more affordable option while still desiring a higher quality than common gold alloys. 18K gold is often used in modern jewelry designs and is available in various colors, including yellow, white, and rose gold.
Finally, 14K gold, which has a gold content of about 58.3%, is less common but still used, particularly for items that require extra durability like daily wear pieces. While not as prevalent as higher karat gold, 14K products cater to a market seeking strength and cost-effectiveness.
The price of gold in Hong Kong is influenced by various factors that are similar to those affecting gold prices globally. Firstly, international market trends play a significant role, as gold is traded on major exchanges such as the London Bullion Market. Changes in demand and supply dynamics in these markets can directly impact prices in Hong Kong.
Another critical factor is the currency exchange rate, particularly the Hong Kong dollar against the US dollar. Since gold is usually priced in US dollars, fluctuations in the exchange rate can affect local gold prices. When the US dollar weakens, gold tends to become more expensive in local currency terms.
Local demand also significantly influences gold prices. In Hong Kong, gold is popular for investment purposes and jewelry. Festivals and wedding seasons can lead to spikes in demand. Additionally, the government’s policies regarding import duties and taxes may also impact prices, as they can affect the overall cost of gold in the region.
Thus, Hong Kong's gold prices are shaped by a blend of global influences and local market conditions.
Gold prices in Hong Kong are anticipated to experience volatility in the coming months, influenced by several global and regional factors. Analysts suggest that as inflation concerns persist and central banks worldwide consider adjusting their monetary policies, gold could see increased demand as a safe-haven asset. In 2024, many experts predict that gold prices may rise due to potential economic uncertainties, fluctuating currency values, and geopolitical tensions.
Moreover, the ongoing situation regarding interest rates in major economies will play a critical role. If central banks, particularly the U.S. Federal Reserve, continue to hike interest rates, it may strengthen the US dollar, putting downward pressure on gold prices. However, if inflation outpaces these hikes, we could witness a surge in gold prices as investors seek protection against currency devaluation.
In the context of Hong Kong, local demand for gold jewelry, investment products, and bullion is expected to remain strong, especially during festive seasons such as the Lunar New Year. This local demand may provide a buffer against international price fluctuations. Overall, while predicting exact prices is challenging, a cautious optimism surrounds the gold market in Hong Kong for the upcoming year.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
10 October 2024 | 20,288.64 | 652.37 | 597.96 | 570.71 | 489.12 | 380.65 |
9 October 2024 | 20,341.70 | 654.07 | 599.52 | 572.20 | 490.40 | 381.65 |
8 October 2024 | 20,550.40 | 660.78 | 605.67 | 578.07 | 495.43 | 385.56 |
7 October 2024 | 20,541.83 | 660.51 | 605.42 | 577.83 | 495.22 | 385.40 |
6 October 2024 | 20,600.66 | 662.40 | 607.15 | 579.48 | 496.64 | 386.50 |
5 October 2024 | 20,600.66 | 662.40 | 607.15 | 579.48 | 496.64 | 386.50 |
4 October 2024 | 20,708.67 | 665.87 | 610.33 | 582.52 | 499.24 | 388.53 |
3 October 2024 | 20,599.34 | 662.36 | 607.11 | 579.45 | 496.61 | 386.48 |
2 October 2024 | 20,597.03 | 662.28 | 607.04 | 579.38 | 496.55 | 386.44 |
1 October 2024 | 20,511.93 | 659.55 | 604.54 | 576.99 | 494.50 | 384.84 |
30 September 2024 | 20,661.83 | 664.37 | 608.95 | 581.20 | 498.12 | 387.65 |
29 September 2024 | 20,616.31 | 662.90 | 607.61 | 579.92 | 497.02 | 386.80 |
28 September 2024 | 20,616.31 | 662.90 | 607.61 | 579.92 | 497.02 | 386.80 |
27 September 2024 | 20,800.70 | 668.83 | 613.05 | 585.11 | 501.46 | 390.26 |
26 September 2024 | 20,703.86 | 665.72 | 610.19 | 582.39 | 499.13 | 388.44 |
25 September 2024 | 20,711.78 | 665.97 | 610.43 | 582.61 | 499.32 | 388.59 |
24 September 2024 | 20,537.86 | 660.38 | 605.30 | 577.72 | 495.13 | 385.33 |
23 September 2024 | 20,441.34 | 657.28 | 602.46 | 575.00 | 492.80 | 383.51 |
22 September 2024 | 20,446.43 | 657.44 | 602.61 | 575.15 | 492.92 | 383.61 |
21 September 2024 | 20,449.74 | 657.55 | 602.70 | 575.24 | 493.00 | 383.67 |
20 September 2024 | 20,180.44 | 648.89 | 594.77 | 567.66 | 486.51 | 378.62 |
19 September 2024 | 19,982.54 | 642.53 | 588.93 | 562.10 | 481.74 | 374.91 |
18 September 2024 | 19,984.74 | 642.60 | 589.00 | 562.16 | 481.79 | 374.95 |
17 September 2024 | 20,081.06 | 645.69 | 591.84 | 564.87 | 484.11 | 376.76 |
16 September 2024 | 20,144.06 | 647.72 | 593.69 | 566.64 | 485.63 | 377.94 |
15 September 2024 | 20,153.10 | 648.01 | 593.96 | 566.89 | 485.85 | 378.11 |
14 September 2024 | 20,153.10 | 648.01 | 593.96 | 566.89 | 485.85 | 378.11 |
13 September 2024 | 20,046.92 | 644.60 | 590.83 | 563.91 | 483.29 | 376.11 |
12 September 2024 | 19,643.88 | 631.64 | 578.95 | 552.57 | 473.57 | 368.55 |
11 September 2024 | 19,638.89 | 631.48 | 578.81 | 552.43 | 473.45 | 368.46 |