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

Saturday, 8 February 2025, 2:41 AM

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1,801,070.58 West African CFA Franc/Ounce
2,860.98 U.S. Dollar/Ounce
57,912.24 West African CFA Franc/Gram 24K
91.99 U.S. Dollar/Gram 24K
53,047.61 West African CFA Franc/Gram 22K
84.27 U.S. Dollar/Gram 22K
Gold ounce price in Niger is 1,801,070.58 West African CFA Franc per ounce, Gold gram price is 57,912.24 West African CFA Franc per gram karat 24, 53,086.22 West African CFA Franc per gram karat 22, 50,673.21 West African CFA Franc per gram karat 21, 43,434.18 West African CFA Franc per gram karat 18.

Gold Price in Niger in West African CFA Franc

Gold Unit West African CFA Franc U.S. Dollar
Gold Ounce 1,801,070.58 2,860.98
Gold Gram Karat 24k 57,912.24 91.99
Gold Gram Karat 22k 53,047.61 84.27
Gold Gram Karat 21k 50,673.21 80.49
Gold Gram Karat 18k 43,434.18 68.99
Gold Gram Karat 14k 33,878.66 53.82
Gold Gram Karat 12k 28,956.12 46.00
Gold Gram Karat 10k 24,149.40 38.36
Gold Gram Karat 9k 21,717.09 34.50
Gold Gram Karat 8k 19,284.77 30.63

Gold Karats Commonly Used in Niger

In Niger, gold jewelry is an integral part of cultural expression, and various karats are used based on traditional practices and economic factors. The most common karat is 22K, which comprises 91.6% pure gold. This high purity level gives jewelry a beautiful yellow hue and is favored for its luxurious appearance. It is often used in wedding and ceremonial pieces, reflecting wealth and status.

The second most common is 18K, containing 75% pure gold. This karat is popular due to its balance between purity and durability, making it suitable for everyday wear while still retaining a rich color.

14K gold, which consists of 58.3% gold, is also used, particularly for its affordability and resilience. It is often preferred for more functional items where durability is essential.

Lastly, 10K gold, with only 41.7% gold content, is the least common. While it is more economical, it is not as prevalent in traditional pieces. The choice of karat often reflects personal preference, economic means, and cultural significance within Niger’s vibrant communities.

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How Gold Price is Determined in Niger

The price of gold in Niger, as in many other countries, is influenced by a combination of global market trends and local economic conditions. International gold prices are primarily determined by supply and demand dynamics on the global market, which include factors such as geopolitical stability, currency fluctuations, and changes in interest rates. When there is economic uncertainty, investors often turn to gold as a safe haven, driving up its price.

In Niger, the local mining industry also plays a crucial role in determining gold prices. The country is rich in mineral resources, and the presence of several gold mining operations contributes to the supply side. The cost of extraction, regulatory environment, and the quality of the ore can impact the profitability of domestic mining, thus affecting the overall price of gold in local markets.

Additionally, local demand for gold, influenced by cultural factors and investment preferences, further modifies its price. As Niger continues to develop its gold sector, both local and international investors must stay attentive to the interplay of these factors in shaping the gold market in the region.

Price of Gold Bullion in Niger in West African CFA Franc

  • The price of gold bullion 5 grams 24K in Niger: 289,561.19 West African CFA Franc
  • The price of gold bullion 10 grams 24K in Niger: 579,122.37 West African CFA Franc
  • The price of gold bullion 20 grams 24K in Niger: 1,158,244.74 West African CFA Franc
  • The price of gold bullion 50 grams 24K in Niger: 2,895,611.86 West African CFA Franc
  • The price of gold bullion 100 grams 24K in Niger: 5,791,223.72 West African CFA Franc
  • The price of gold bullion 250 grams 24K in Niger: 14,478,059.30 West African CFA Franc
  • The price of gold bullion 500 grams 24K in Niger: 28,956,118.61 West African CFA Franc
  • The price of gold bullion 1000 grams 24K in Niger: 57,912,237.22 West African CFA Franc

Predictions for Gold Prices in Niger

The gold market in Niger is experiencing significant interest from investors, fueled by the country's rich natural resources and increasing global demand for gold. Strong forecasts suggest that gold prices will continue to rise in the coming years, influenced by various economic factors and geopolitical dynamics.

Analysts predict that the price of gold in Niger will be impacted by the global economic environment, particularly inflation rates and currency fluctuations. As central banks worldwide continue to adjust interest rates and monetary policies, gold is likely to remain an attractive asset for hedging against inflation. This trend is expected to drive demand for gold, both domestically and internationally.

Moreover, Niger's mining sector is expanding, with new discoveries and investments in infrastructure potentially increasing gold production. As the country strengthens its mining regulations and improves investment conditions, foreign investors are likely to take a keen interest, adding further momentum to gold prices.

In summary, while predicting financial markets can be uncertain, the outlook for gold prices in Niger appears positive in the short to medium term, driven by both local and global factors.

Gold price in Niger in February 2025 in West African CFA Franc

Date Gold Ounce Gold Gram Karat 24 Gold Gram Karat 22 Gold Gram Karat 21 Gold Gram Karat 18 Gold Gram Karat 14
7 February 2025 1,811,088.00 58,234.34 53,377.19 50,944.81 43,661.72 33,979.14
6 February 2025 1,809,035.39 58,168.34 53,316.69 50,887.07 43,612.23 33,940.63
5 February 2025 1,814,135.62 58,332.34 53,467.01 51,030.54 43,735.19 34,036.32
4 February 2025 1,784,714.07 57,386.30 52,599.88 50,202.93 43,025.89 33,484.32
3 February 2025 1,760,548.03 56,609.26 51,887.65 49,523.15 42,443.30 33,030.92
2 February 2025 1,769,389.12 56,893.54 52,148.22 49,771.85 42,656.44 33,196.79
1 February 2025 1,763,991.06 56,719.97 51,989.13 49,620.00 42,526.30 33,095.52
31 January 2025 1,760,429.71 56,605.46 51,884.16 49,519.82 42,440.45 33,028.70
30 January 2025 1,736,103.09 55,823.25 51,167.20 48,835.53 41,853.98 32,572.29
29 January 2025 1,738,003.46 55,884.36 51,223.21 48,888.99 41,899.79 32,607.94
28 January 2025 1,718,048.49 55,242.72 50,635.09 48,327.67 41,418.72 32,233.56
27 January 2025 1,721,122.63 55,341.56 50,725.69 48,414.14 41,492.83 32,291.23
26 January 2025 1,735,987.48 55,819.53 51,163.79 48,832.28 41,851.19 32,570.12
25 January 2025 1,736,536.00 55,837.17 51,179.96 48,847.71 41,864.42 32,580.41
24 January 2025 1,748,975.13 56,237.14 51,546.57 49,197.61 42,164.30 32,813.79
23 January 2025 1,730,234.05 55,634.54 50,994.22 48,670.44 41,712.49 32,462.18
22 January 2025 1,735,790.11 55,813.19 51,157.98 48,826.73 41,846.43 32,566.42
21 January 2025 1,739,142.60 55,920.98 51,256.78 48,921.03 41,927.26 32,629.32
20 January 2025 1,724,729.13 55,457.53 50,831.98 48,515.59 41,579.78 32,358.90
19 January 2025 1,720,407.77 55,318.58 50,704.62 48,394.03 41,475.60 32,277.82
18 January 2025 1,720,225.98 55,312.73 50,699.26 48,388.92 41,471.21 32,274.41
17 January 2025 1,730,733.78 55,650.60 51,008.95 48,684.49 41,724.54 32,471.55
16 January 2025 1,716,019.67 55,177.48 50,575.29 48,270.60 41,369.81 32,195.49
15 January 2025 1,712,336.79 55,059.06 50,466.75 48,167.00 41,281.02 32,126.39
14 January 2025 1,712,454.86 55,062.86 50,470.23 48,170.32 41,283.87 32,128.61
13 January 2025 1,717,790.78 55,234.43 50,627.49 48,320.42 41,412.51 32,228.72
12 January 2025 1,719,915.61 55,302.75 50,690.12 48,380.19 41,463.73 32,268.59
11 January 2025 1,709,011.28 54,952.13 50,368.74 48,073.45 41,200.85 32,064.00
10 January 2025 1,694,722.64 54,492.69 49,947.62 47,671.52 40,856.38 31,795.92
9 January 2025 1,675,811.91 53,884.63 49,390.27 47,139.58 40,400.48 31,441.12

Gold Making Charges in Niger

In Niger, gold making charges are an essential factor to consider when purchasing gold jewelry or ornaments. These charges typically constitute a percentage of the gold price per gram. On average, the making charges can range between 10% to 15% of the gold price. This percentage can fluctuate based on the intricacy of the design, the skill level of the artisans, and the overall quality of workmanship involved in the creation of the gold item.

To illustrate the absolute value of these charges, consider that the price of gold per gram in Niger may be around 30,000 Nigerien Francs (XOF). Assuming a making charge of 12%, the making charge per gram would then be approximately 3,600 XOF. This means that for every gram of gold, consumers could expect to pay around this amount in making charges in addition to the gold price itself.

Therefore, when buying gold in Niger, it is advised to inquire about the making charges upfront to understand the total cost effectively.