Gold Price Today in Hong Kong in Hong Kong Dollar (HKD)

Friday, 4 October 2024, 2:25 AM

Gold ounce price in Hong Kong is 20,659.44 Hong Kong Dollar per ounce, Gold gram price is 664.29 per gram karat 24, 608.93 Hong Kong Dollar per gram karat 22, 581.25 Hong Kong Dollar per gram karat 21, 498.22 Hong Kong Dollar per gram karat 18.

How Gold Price is Determined in Hong Kong

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.

Price of Gold Bullion in Hong Kong in Hong Kong Dollar

• The price of gold bullion 5 grams 24K in Hong Kong: 3,321.45 Hong Kong Dollar
• The price of gold bullion 10 grams 24K in Hong Kong: 6,642.91 Hong Kong Dollar
• The price of gold bullion 20 grams 24K in Hong Kong: 13,285.81 Hong Kong Dollar
• The price of gold bullion 50 grams 24K in Hong Kong: 33,214.54 Hong Kong Dollar
• The price of gold bullion 100 grams 24K in Hong Kong: 66,429.07 Hong Kong Dollar
• The price of gold bullion 250 grams 24K in Hong Kong: 166,072.68 Hong Kong Dollar
• The price of gold bullion 500 grams 24K in Hong Kong: 332,145.36 Hong Kong Dollar
• The price of gold bullion 1000 grams 24K in Hong Kong: 664,290.72 Hong Kong Dollar

Predictions for Gold Prices in Hong Kong

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.

Gold price in Hong Kong in October 2024 in Hong Kong Dollar