Gold Price Today in Kenya in Kenyan Shilling (KES)

Friday, 11 October 2024, 4:55 PM

Gold ounce price in Kenya is 343,085.11 Kenyan Shilling per ounce, Gold gram price is 11,031.68 Kenyan Shilling per gram karat 24, 10,112.37 Kenyan Shilling per gram karat 22, 9,652.72 Kenyan Shilling per gram karat 21, 8,273.76 Kenyan Shilling per gram karat 18.

How Gold Price is Determined in Kenya

The price of gold in Kenya is influenced by several factors, both local and global. One of the primary determinants is the international market price, which is set by trading on major commodities exchanges such as the London Bullion Market. This price fluctuates based on global demand and supply dynamics, economic indicators, and geopolitical events.

In addition to global prices, local demand and supply play a significant role. In Kenya, the demand for gold is driven by industries, artisans, and investors. The availability and accessibility of gold, influenced by local mining operations, also affect the prices. As local miners extract gold, the amount of gold in circulation can influence local market rates.

Moreover, currency exchange rates impact pricing, especially since gold is typically traded in US dollars. Any fluctuations in the Kenyan shilling against the dollar can affect the local price of gold. Lastly, government policies regarding mining, trade tariffs, and taxation can also contribute to the overall cost of gold in the Kenyan market, ultimately reflecting in prices paid by consumers and businesses.

Price of Gold Bullion in Kenya in Kenyan Shilling

• The price of gold bullion 5 grams 24K in Kenya: 55,158.38 Kenyan Shilling
• The price of gold bullion 10 grams 24K in Kenya: 110,316.75 Kenyan Shilling
• The price of gold bullion 20 grams 24K in Kenya: 220,633.51 Kenyan Shilling
• The price of gold bullion 50 grams 24K in Kenya: 551,583.77 Kenyan Shilling
• The price of gold bullion 100 grams 24K in Kenya: 1,103,167.54 Kenyan Shilling
• The price of gold bullion 250 grams 24K in Kenya: 2,757,918.86 Kenyan Shilling
• The price of gold bullion 500 grams 24K in Kenya: 5,515,837.72 Kenyan Shilling
• The price of gold bullion 1000 grams 24K in Kenya: 11,031,675.45 Kenyan Shilling

Predictions for Gold Prices in Kenya

The gold market in Kenya has shown fluctuations in recent years, driven by various economic factors. Analysts predict that gold prices in Kenya are likely to experience a gradual increase due to rising global demand and inflationary pressures. As investors seek safe-haven assets, gold remains a popular choice, particularly in uncertain economic times.

Furthermore, the Kenyan government is actively promoting mining as a means of boosting the economy. This initiative may lead to increased production and accessibility of gold, potentially influencing local prices. However, global market trends will still play a significant role in determining the overall price fluctuations.

In the short term, it is expected that gold prices may face volatility, influenced by geopolitical events and changes in currency values. Strong performance in international markets could bolster local prices, while adverse conditions might result in a temporary dip.

Overall, the outlook for gold prices in Kenya remains cautiously optimistic, with potential for growth as the market stabilizes and demand continues to rise. Investors should stay informed about both local and international market conditions to make the best decisions regarding gold investments.

Gold price in Kenya in October 2024 in Kenyan Shilling