Gold Price Today in Palestine in Israeli Shekel (ILS)

Friday, 11 October 2024, 3:54 PM

Gold ounce price in Palestine is 9,961.54 Israeli Shekel per ounce, Gold gram price is 320.31 Israeli Shekel per gram karat 24, 293.61 Israeli Shekel per gram karat 22, 280.27 Israeli Shekel per gram karat 21, 240.23 Israeli Shekel per gram karat 18.

How Gold Price is Determined in Palestine

The determination of gold prices in Palestine involves a combination of global market trends, local demand, and geopolitical factors. Gold prices are primarily influenced by international markets, which reflect the value of gold in major trading hubs like London and New York. As gold is traded on a global scale, fluctuations in these markets directly affect prices in Palestine.

Furthermore, local demand plays a significant role. In Palestine, jewelry and gold are often considered essential items for weddings and other significant life events. This cultural demand can lead to price variations that may not align perfectly with global trends. Additionally, import taxes and tariffs on gold can impact the final price that consumers pay, making it higher than the international market price.

Another factor is the geopolitical situation in the region. Political instability and economic challenges can influence consumer confidence and purchasing power, which in turn affects demand for gold. Strong local currencies and economic stability may lead to increased gold purchases, while factors such as conflict or economic downturns can diminish demand. Understanding these dynamics is crucial for anyone looking to navigate the gold market in Palestine.

Price of Gold Bullion in Palestine in Israeli Shekel

• The price of gold bullion 5 grams 24K in Palestine: 1,601.53 Israeli Shekel
• The price of gold bullion 10 grams 24K in Palestine: 3,203.07 Israeli Shekel
• The price of gold bullion 20 grams 24K in Palestine: 6,406.13 Israeli Shekel
• The price of gold bullion 50 grams 24K in Palestine: 16,015.34 Israeli Shekel
• The price of gold bullion 100 grams 24K in Palestine: 32,030.67 Israeli Shekel
• The price of gold bullion 250 grams 24K in Palestine: 80,076.68 Israeli Shekel
• The price of gold bullion 500 grams 24K in Palestine: 160,153.35 Israeli Shekel
• The price of gold bullion 1000 grams 24K in Palestine: 320,306.70 Israeli Shekel

Predictions for Gold Prices in Palestine

The gold market in Palestine, like in many other regions, is influenced by a variety of factors including global economic trends, local demand, and geopolitical stability. Strong global demand for gold has been seen as a safe haven during times of economic uncertainty, and this trend is expected to continue. Analysts predict that gold prices in Palestine could see fluctuations in the short term due to local political conditions and economic challenges, but a general upward trend is anticipated in the longer term.

Inflation and currency fluctuations are also important considerations. As the value of local currency changes, it can impact gold prices significantly. Investors in Palestine may look to gold as a hedge against inflation, driving demand and potentially increasing prices further. Additionally, the retail market for gold jewelry is expected to remain strong, as cultural significance and traditional values in the region contribute to ongoing demand.

Overall, while immediate uncertainties may cause volatility, the long-term outlook for gold in Palestine remains positive, driven by both local and global market dynamics.

Gold price in Palestine in October 2024 in Israeli Shekel