Gold Price Today in Israel in Israeli Shekel (ILS)

Friday, 11 October 2024, 3:09 PM

Gold ounce price in Israel is 9,993.95 Israeli Shekel per ounce, Gold gram price is 321.35 Israeli Shekel per gram karat 24, 294.57 Israeli Shekel per gram karat 22, 281.18 Israeli Shekel per gram karat 21, 241.01 Israeli Shekel per gram karat 18.

How Gold Price is Determined in Israel

The price of gold in Israel, much like in other parts of the world, is influenced by a variety of factors. One of the primary determinants is global market prices, which are set on major exchanges such as the London Bullion Market. Local demand and supply dynamics also play a crucial role in determining the price. For instance, during festive seasons or special occasions, the demand for gold jewelry may rise, leading to increased prices.

Additionally, the value of the Israeli Shekel against major currencies, especially the US dollar, influences the local gold price. A stronger Shekel generally means lower gold prices in local currency, while a weaker Shekel can drive prices up. Interest rates, inflation, and geopolitical stability are also critical; high inflation or political instability often leads investors to seek safe-haven assets like gold, thereby increasing its price.

Jewelry retailers, bullion traders, and financial institutions all contribute to the pricing mechanisms in Israel, leading to a market that reacts not only to international trends but also to local economic conditions. Overall, the determination of gold prices in Israel is a complex interplay of various global and local factors.

Price of Gold Bullion in Israel in Israeli Shekel

• The price of gold bullion 5 grams 24K in Israel: 1,606.74 Israeli Shekel
• The price of gold bullion 10 grams 24K in Israel: 3,213.49 Israeli Shekel
• The price of gold bullion 20 grams 24K in Israel: 6,426.98 Israeli Shekel
• The price of gold bullion 50 grams 24K in Israel: 16,067.45 Israeli Shekel
• The price of gold bullion 100 grams 24K in Israel: 32,134.89 Israeli Shekel
• The price of gold bullion 250 grams 24K in Israel: 80,337.24 Israeli Shekel
• The price of gold bullion 500 grams 24K in Israel: 160,674.47 Israeli Shekel
• The price of gold bullion 1000 grams 24K in Israel: 321,348.95 Israeli Shekel

Predictions for Gold Prices in Israel

The gold market in Israel is influenced by various factors including global economic trends, local demand, and geopolitical stability. As of late 2023, analysts are predicting a mix of fluctuations and potential increases in gold prices. With growing concerns over inflation and economic uncertainty worldwide, many investors are turning to gold as a safe-haven asset.

According to market experts, if central banks continue to raise interest rates, this could initially pressure gold prices down as investors prefer interest-bearing assets. However, if inflation remains high or geopolitical tensions escalate, gold may see a resurgence in demand, pushing prices upwards. Strong local demand from both consumers and investors in Israel is expected to further support the price of gold.

Additionally, the Israeli shekel's performance against major currencies can impact gold prices in the domestic market. A weakening shekel could make gold more expensive for local buyers, potentially leading to increased interest in purchasing gold as a hedge against currency risk.

In summary, while the outlook remains cautious, many believe that gold will continue to play a significant role in the investment portfolios of Israelis amid ongoing economic challenges.

Gold price in Israel in October 2024 in Israeli Shekel