Friday, 11 October 2024, 4:25 PM
Gold Unit | Lebanese Pound | U.S. Dollar |
---|---|---|
Gold Ounce | 238,164,893.62 | 2,659.57 |
Gold Gram Karat 24k | 7,658,035.16 | 85.52 |
Gold Gram Karat 22k | 7,014,760.21 | 78.33 |
Gold Gram Karat 21k | 6,700,780.77 | 74.83 |
Gold Gram Karat 18k | 5,743,526.37 | 64.14 |
Gold Gram Karat 14k | 4,479,950.57 | 50.03 |
Gold Gram Karat 12k | 3,829,017.58 | 42.76 |
Gold Gram Karat 10k | 3,193,400.66 | 35.66 |
Gold Gram Karat 9k | 2,871,763.19 | 32.07 |
Gold Gram Karat 8k | 2,550,125.71 | 28.48 |
In Lebanon, gold jewelry is a significant part of cultural traditions and personal adornment. The most commonly used gold karats include 18K, 21K, and 22K.
18K gold is the most popular choice among Lebanese consumers. Comprising 75% gold and 25% other metals, it offers a good balance between durability and luster, making it ideal for everyday wear.
21K gold is also quite popular, containing 87.5% gold content. It is favored for its bright appearance and is often chosen for special occasions and wedding jewelry.
22K gold is less commonly used for everyday items but is highly valued for its purity, containing 91.67% gold. It is often used in traditional designs and is associated with luxury and status.
Although 14K gold is available, it is less preferred in Lebanon, as buyers typically favor higher karat values that signify greater purity. Overall, the preference for higher karat gold reflects Lebanese cultural values surrounding wealth and beauty.
In Lebanon, the price of gold is determined by several factors that reflect both local and international market dynamics. Global gold prices are influenced by various economic indicators, including inflation rates, currency strength, and geopolitical stability. The international market price is usually expressed in US dollars, which means that any fluctuations in the dollar's value can directly affect local gold prices.
In addition to global influences, local demand and supply also play a critical role. In Lebanon, gold is often viewed as a safe haven investment, particularly during times of economic uncertainty or political instability. As a result, when demand increases due to local crises, gold prices may rise independently of international trends.
Furthermore, the cost of raw materials, such as the price of gold bullion, is a consideration for local jewelers. They also factor in manufacturing costs and local taxes when setting retail prices. Lebanese jewelers typically adjust their prices multiple times throughout the day to reflect both the international market fluctuations and local economic conditions. This responsive pricing strategy ensures that the gold market remains aligned with global trends while accommodating local consumer behavior.
The gold market in Lebanon has been influenced by a variety of factors, including economic instability, currency devaluation, and geopolitical tensions. As Lebanon continues to face significant financial challenges, many analysts predict that gold prices may rise as investors seek safe-haven assets. The Lebanese pound's depreciation against foreign currencies, particularly the US dollar, has led to an increasing demand for gold, which is perceived as a reliable store of value.
Furthermore, global trends in gold prices are also expected to impact Lebanon's market. With central banks around the world accumulating gold reserves and inflation concerns rising, investors may turn to gold as a hedge against economic uncertainty. Analysts foresee potential fluctuations in gold prices, however, they agree that the long-term outlook appears bullish, given the current economic climate in Lebanon.
In summary, as long as Lebanon contends with economic instability and financial hardships, gold will likely remain an attractive investment. Although precise predictions are challenging, the inherent value of gold suggests potential price increases in the near future, making it a crucial asset for Lebanese investors.
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 | 233,688,516.27 | 7,514,100.20 | 6,887,371.54 | 6,573,516.63 | 5,633,763.65 | 4,384,399.93 |
9 October 2024 | 234,653,674.11 | 7,545,134.22 | 6,915,817.10 | 6,600,665.94 | 5,657,031.68 | 4,402,507.96 |
8 October 2024 | 236,511,121.26 | 7,604,859.20 | 6,970,560.60 | 6,652,914.80 | 5,701,811.02 | 4,437,356.87 |
7 October 2024 | 238,138,353.41 | 7,657,181.78 | 7,018,519.11 | 6,698,687.86 | 5,741,040.34 | 4,467,886.56 |
6 October 2024 | 238,509,290.54 | 7,669,109.02 | 7,029,451.53 | 6,709,122.10 | 5,749,982.90 | 4,474,845.98 |
5 October 2024 | 238,509,290.54 | 7,669,109.02 | 7,029,451.53 | 6,709,122.10 | 5,749,982.90 | 4,474,845.98 |
4 October 2024 | 238,978,935.42 | 7,684,210.14 | 7,043,293.12 | 6,722,332.92 | 5,761,305.10 | 4,483,657.33 |
3 October 2024 | 237,533,163.19 | 7,637,722.29 | 7,000,682.68 | 6,681,664.22 | 5,726,450.41 | 4,456,532.14 |
2 October 2024 | 237,981,708.46 | 7,652,144.97 | 7,013,902.40 | 6,694,281.53 | 5,737,263.95 | 4,464,947.63 |
1 October 2024 | 237,377,037.84 | 7,632,702.18 | 6,996,081.28 | 6,677,272.51 | 5,722,686.54 | 4,453,602.96 |
30 September 2024 | 238,004,522.70 | 7,652,878.54 | 7,014,574.79 | 6,694,923.28 | 5,737,813.95 | 4,465,375.66 |
29 September 2024 | 237,665,789.19 | 7,641,986.79 | 7,004,591.49 | 6,685,394.91 | 5,729,647.76 | 4,459,020.43 |
28 September 2024 | 237,665,789.19 | 7,641,986.79 | 7,004,591.49 | 6,685,394.91 | 5,729,647.76 | 4,459,020.43 |
27 September 2024 | 239,112,845.36 | 7,688,515.93 | 7,047,239.77 | 6,726,099.73 | 5,764,533.40 | 4,486,169.71 |
26 September 2024 | 238,358,765.55 | 7,664,268.99 | 7,025,015.19 | 6,704,887.92 | 5,746,354.04 | 4,472,021.87 |
25 September 2024 | 236,776,048.67 | 7,613,377.77 | 6,978,368.66 | 6,660,367.05 | 5,708,197.89 | 4,442,327.37 |
24 September 2024 | 236,428,489.04 | 7,602,202.22 | 6,968,125.23 | 6,650,590.41 | 5,699,818.93 | 4,435,806.55 |
23 September 2024 | 235,060,373.17 | 7,558,211.36 | 6,927,803.51 | 6,612,106.14 | 5,666,836.38 | 4,410,138.33 |
22 September 2024 | 234,671,142.52 | 7,545,695.90 | 6,916,331.93 | 6,601,157.31 | 5,657,452.81 | 4,402,835.69 |
21 September 2024 | 234,671,142.52 | 7,545,695.90 | 6,916,331.93 | 6,601,157.31 | 5,657,452.81 | 4,402,835.69 |
20 September 2024 | 232,196,365.14 | 7,466,121.07 | 6,843,394.20 | 6,531,543.32 | 5,597,790.87 | 4,356,404.60 |
19 September 2024 | 230,626,662.03 | 7,415,648.30 | 6,797,131.21 | 6,487,388.52 | 5,559,948.46 | 4,326,954.26 |
18 September 2024 | 229,615,383.99 | 7,383,131.32 | 6,767,326.38 | 6,458,941.88 | 5,535,568.56 | 4,307,980.94 |
17 September 2024 | 230,765,734.10 | 7,420,120.07 | 6,801,230.01 | 6,491,300.54 | 5,563,301.21 | 4,329,563.49 |
16 September 2024 | 231,418,337.84 | 7,441,104.11 | 6,820,463.83 | 6,509,657.89 | 5,579,034.18 | 4,341,807.46 |
15 September 2024 | 231,457,884.83 | 7,442,375.72 | 6,821,629.38 | 6,510,770.32 | 5,579,987.58 | 4,342,549.43 |
14 September 2024 | 231,395,344.46 | 7,440,364.77 | 6,819,786.16 | 6,509,011.10 | 5,578,479.86 | 4,341,376.07 |
13 September 2024 | 228,844,737.95 | 7,358,351.70 | 6,744,613.56 | 6,437,264.08 | 5,516,989.83 | 4,293,522.29 |
12 September 2024 | 226,409,322.09 | 7,280,042.51 | 6,672,835.90 | 6,368,757.30 | 5,458,276.81 | 4,247,829.68 |
11 September 2024 | 225,980,854.68 | 7,266,265.42 | 6,660,207.92 | 6,356,704.77 | 5,447,947.32 | 4,239,790.89 |