Gold Price Today in Mali in West African CFA Franc (XOF)

Friday, 11 October 2024, 2:54 PM

Gold ounce price in Mali is 1,592,061.01 West African CFA Franc per ounce, Gold gram price is 51,191.67 West African CFA Franc per gram karat 24, 46,925.70 West African CFA Franc per gram karat 22, 44,792.71 West African CFA Franc per gram karat 21, 38,393.75 West African CFA Franc per gram karat 18.

How Gold Price is Determined in Mali

The price of gold in Mali, one of Africa's largest gold producers, is influenced by several key factors. Global Market Prices play a significant role, as Mali's gold is sold on international markets where prices fluctuate based on supply and demand dynamics. The London Bullion Market Association (LBMA) gold price is a reference point for many countries, including Mali, affecting local pricing structures.

Additionally, local production costs, including labor, extraction techniques, and regulatory expenses, contribute to the overall pricing of gold. Mali's mining sector, particularly the small-scale and artisanal miners, often face varying costs due to differences in technology and efficiency. Government policies and mining regulations also impact prices by affecting the profitability and operational viability of gold mining companies.

Furthermore, currency fluctuations can influence gold prices in Mali, especially as gold is priced in US dollars on the global market. A stronger dollar can make gold more expensive in local currency terms. Overall, the interplay of international market trends, local production conditions, and economic factors are pivotal in determining the gold prices in Mali.

Price of Gold Bullion in Mali in West African CFA Franc

• The price of gold bullion 5 grams 24K in Mali: 255,958.36 West African CFA Franc
• The price of gold bullion 10 grams 24K in Mali: 511,916.72 West African CFA Franc
• The price of gold bullion 20 grams 24K in Mali: 1,023,833.45 West African CFA Franc
• The price of gold bullion 50 grams 24K in Mali: 2,559,583.61 West African CFA Franc
• The price of gold bullion 100 grams 24K in Mali: 5,119,167.23 West African CFA Franc
• The price of gold bullion 250 grams 24K in Mali: 12,797,918.07 West African CFA Franc
• The price of gold bullion 500 grams 24K in Mali: 25,595,836.14 West African CFA Franc
• The price of gold bullion 1000 grams 24K in Mali: 51,191,672.28 West African CFA Franc

Predictions for Gold Prices in Mali

The gold market in Mali, one of Africa's leading gold producers, is experiencing significant fluctuations that are set to influence future prices. Recent trends indicate a potential increase in gold prices, primarily due to rising global demand and geopolitical tensions that drive investors towards safe-haven assets. Analysts predict that as the world economy continues to face uncertainty, the allure of gold as a reliable investment will strengthen.

Moreover, Mali's rich gold reserves and mining operations contribute to its economic landscape. With the government focusing on attracting foreign investment and improving mining regulations, there is potential for increased production, which could stabilize prices in the local market. However, local challenges such as security threats and political instability remain significant factors that could impact mining operations and investor confidence.

Overall, while short-term fluctuations are expected, the long-term outlook for gold prices in Mali appears promising, driven by global market trends and local production dynamics. Stakeholders are advised to stay informed and cautiously optimistic as they navigate this evolving market landscape.

Gold price in Mali in October 2024 in West African CFA Franc