Gold Price Today in Namibia in Namibian Dollar (NAD)

Wednesday, 6 November 2024, 9:26 PM

46,209.91 Namibian Dollar/Ounce
Live
2,660.18 U.S. Dollar/Ounce
Gold ounce price in Namibia is 46,209.91 Namibian Dollar per ounce, Gold gram price is 1,485.85 Namibian Dollar per gram karat 24, 1,362.03 Namibian Dollar per gram karat 22, 1,300.12 Namibian Dollar per gram karat 21, 1,114.39 Namibian Dollar per gram karat 18.

Gold Price in Namibia in Namibian Dollar

Gold Unit Namibian Dollar U.S. Dollar
Gold Ounce 46,209.91 2,660.18
Gold Gram Karat 24k 1,485.85 85.54
Gold Gram Karat 22k 1,361.04 78.35
Gold Gram Karat 21k 1,300.12 74.84
Gold Gram Karat 18k 1,114.39 64.15
Gold Gram Karat 14k 869.22 50.04
Gold Gram Karat 12k 742.92 42.77
Gold Gram Karat 10k 619.60 35.67
Gold Gram Karat 9k 557.19 32.08
Gold Gram Karat 8k 494.79 28.48

Gold Karats Commonly Used in Namibia

In Namibia, the most commonly used gold karats are 18K, 14K, and 10K. Among these, 18K gold is the most popular choice due to its ideal balance of purity and durability. Comprising 75% gold, 18K offers a rich color and excellent resistance to tarnish, making it highly sought after for fine jewelry.

Next in line is 14K gold, which contains 58.3% gold. This karat is favored for its toughness, making it a practical option for everyday wear. It has a slightly paler color than 18K gold, but its affordability and strength make it a common choice for many consumers.

Lastly, 10K gold is occasionally used, containing 41.7% gold. It is the least pure of the commonly used karats in Namibia, often chosen for its lower price point and high durability. While it has a less distinct color than higher karats, its strength makes it a practical option for those seeking budget-friendly jewelry.

Overall, the preference for these karats reflects the balance between quality, appearance, and cost that consumers in Namibia typically seek.

Gold Price Chart in Namibia

How Gold Price is Determined in Namibia

The price of gold in Namibia is influenced by several key factors that reflect both global and local market dynamics. First and foremost, global gold prices play a significant role. The gold market operates on a worldwide scale, with prices set primarily on the London Bullion Market. As gold is traded internationally, fluctuations in global demand and supply directly affect local prices.

In Namibia, mining activity significantly impacts gold prices. The country is home to several gold mines, and the level of production can affect local supply. If local mines increase their output, it can lead to a lower price in the domestic market, assuming demand remains constant. Conversely, if production decreases, prices may rise.

Another important factor is the exchange rate of the Namibian Dollar against major currencies, especially the US Dollar, as gold is typically priced in dollars. A stronger Namibian Dollar can make gold cheaper for local buyers, while a weaker dollar may increase prices.

Additionally, economic conditions, inflation rates, and investor sentiment within Namibia also play crucial roles in determining gold prices. Overall, the interplay of these factors creates a dynamic environment for gold pricing in Namibia.

Price of Gold Bullion in Namibia in Namibian Dollar

  • The price of gold bullion 5 grams 24K in Namibia: 7,429.25 Namibian Dollar
  • The price of gold bullion 10 grams 24K in Namibia: 14,858.49 Namibian Dollar
  • The price of gold bullion 20 grams 24K in Namibia: 29,716.99 Namibian Dollar
  • The price of gold bullion 50 grams 24K in Namibia: 74,292.47 Namibian Dollar
  • The price of gold bullion 100 grams 24K in Namibia: 148,584.93 Namibian Dollar
  • The price of gold bullion 250 grams 24K in Namibia: 371,462.34 Namibian Dollar
  • The price of gold bullion 500 grams 24K in Namibia: 742,924.67 Namibian Dollar
  • The price of gold bullion 1000 grams 24K in Namibia: 1,485,849.34 Namibian Dollar

Predictions for Gold Prices in Namibia

The gold market in Namibia is subject to various factors that influence its pricing trends. As of 2023, analysts predict that gold prices may experience fluctuations due to global economic conditions, including inflation rates and currency strength. Strong demand for gold, particularly in jewelry and technology sectors, is expected to support prices.

Namibia, being one of Africa's prominent gold producers, will likely see its exports impacted by global market dynamics. Demand from major markets such as India and China can significantly affect local prices. Additionally, geopolitical tensions and economic uncertainties often lead investors to flock towards gold as a safe haven asset, potentially driving prices upward.

Furthermore, advancements in mining technology and resource discoveries within Namibia may contribute to improved production levels, which could impact supply and, ultimately, prices. Analysts suggest that despite potential price volatility, the long-term outlook for gold in Namibia remains positive, with expectations for gradual price increases in response to ongoing global economic conditions.

In conclusion, while short-term predictions may vary, the foundational aspects of gold as an investment and store of value indicate a resilient market in Namibia.

Gold price in Namibia in November 2024 in Namibian Dollar

Date Gold Ounce Gold Gram Karat 24 Gold Gram Karat 22 Gold Gram Karat 21 Gold Gram Karat 18 Gold Gram Karat 14
6 November 2024 47,754.71 1,535.52 1,407.45 1,343.31 1,151.27 895.96
5 November 2024 48,005.01 1,543.57 1,414.83 1,350.35 1,157.31 900.66
4 November 2024 48,201.43 1,549.89 1,420.61 1,355.88 1,162.04 904.34
3 November 2024 48,105.01 1,546.78 1,417.77 1,353.16 1,159.72 902.53
2 November 2024 48,186.68 1,549.41 1,420.18 1,355.46 1,161.68 904.07
1 November 2024 48,616.46 1,563.23 1,432.85 1,367.55 1,172.05 912.13
31 October 2024 49,168.69 1,580.99 1,449.12 1,383.09 1,185.36 922.49
29 October 2024 48,660.73 1,564.65 1,434.15 1,368.80 1,173.11 912.96
28 October 2024 48,366.71 1,555.20 1,425.49 1,360.53 1,166.02 907.44
27 October 2024 48,603.23 1,562.80 1,432.46 1,367.18 1,171.73 911.88
26 October 2024 48,472.77 1,558.61 1,428.61 1,363.51 1,168.58 909.43
25 October 2024 48,279.73 1,552.40 1,422.92 1,358.08 1,163.93 905.81
24 October 2024 48,409.54 1,556.58 1,426.75 1,361.73 1,167.06 908.25
23 October 2024 47,867.09 1,539.13 1,410.76 1,346.47 1,153.98 898.07
18 October 2024 47,870.62 1,539.25 1,410.86 1,346.57 1,154.07 898.14
17 October 2024 47,310.17 1,521.23 1,394.35 1,330.81 1,140.55 887.62
16 October 2024 46,818.47 1,505.42 1,379.85 1,316.98 1,128.70 878.40
15 October 2024 46,334.39 1,489.85 1,365.59 1,303.36 1,117.03 869.31
14 October 2024 46,415.00 1,492.44 1,367.96 1,305.63 1,118.97 870.83
11 October 2024 46,369.00 1,490.96 1,366.61 1,304.33 1,117.86 869.96
12 October 2024 46,517.02 1,495.72 1,370.97 1,308.50 1,121.43 872.74
11 October 2024 46,482.54 1,494.62 1,369.95 1,307.53 1,120.60 872.09
10 October 2024 46,112.53 1,482.72 1,359.05 1,297.12 1,111.68 865.15
9 October 2024 45,759.16 1,471.36 1,348.63 1,287.18 1,103.16 858.52
8 October 2024 45,983.60 1,478.57 1,355.25 1,293.49 1,108.57 862.73
7 October 2024 46,459.26 1,493.87 1,369.27 1,306.87 1,120.04 871.66
6 October 2024 46,531.57 1,496.19 1,371.40 1,308.90 1,121.78 873.01
5 October 2024 46,531.57 1,496.19 1,371.40 1,308.90 1,121.78 873.01
4 October 2024 46,662.67 1,500.41 1,375.26 1,312.59 1,124.94 875.47
3 October 2024 46,101.33 1,482.36 1,358.72 1,296.80 1,111.41 864.94

Gold Making Charges in Namibia

In Namibia, gold making charges can significantly affect the overall cost of purchasing gold jewelry and other items. These charges are typically expressed as a percentage of the gram price of gold and can vary widely depending on the jeweler and the complexity of the design. On average, these making charges can range from 10% to 30% of the gram price.

For instance, if the current gold price is approximately NAD 1,000 per gram, a 20% making charge would add an additional NAD 200, bringing the total cost to NAD 1,200 per gram. Therefore, when considering purchasing gold in Namibia, consumers should be aware that the making charges can add a significant amount to the final price.

It is crucial for buyers to inquire about the specific making charges before finalizing their purchase, as this will ensure they understand the total expenditure. Additionally, comparing different jewelers may provide better insight into the varying making charges and help in making an informed decision.