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

Friday, 11 October 2024, 4:10 PM

1,590,177.72 West African CFA Franc/Ounce
Live
2,652.52 U.S. Dollar/Ounce
Gold price in Senegal Ounce Gram
24K 22K 21K 18K 14K
Gold ounce price in Senegal is 1,590,177.72 West African CFA Franc per ounce, Gold gram price is 51,131.12 West African CFA Franc per gram karat 24, 46,870.19 West African CFA Franc per gram karat 22, 44,739.73 West African CFA Franc per gram karat 21, 38,348.34 West African CFA Franc per gram karat 18.

Gold Price in Senegal in West African CFA Franc

Gold Unit West African CFA Franc U.S. Dollar
Gold Ounce 1,590,177.72 2,652.52
Gold Gram Karat 24k 51,131.12 85.29
Gold Gram Karat 22k 46,836.10 78.13
Gold Gram Karat 21k 44,739.73 74.63
Gold Gram Karat 18k 38,348.34 63.97
Gold Gram Karat 14k 29,911.70 49.89
Gold Gram Karat 12k 25,565.56 42.65
Gold Gram Karat 10k 21,321.68 35.57
Gold Gram Karat 9k 19,174.17 31.98
Gold Gram Karat 8k 17,026.66 28.40

Common Gold Karats in Senegal

In Senegal, the gold marketplace predominantly features several karats, with 18k gold being the most common. This high-quality gold, consisting of 75% pure gold mixed with 25% other metals such as copper or silver, strikes an ideal balance between durability and value, making it a popular choice for both jewelry and investment.

Following closely is 14k gold, containing 58.3% pure gold. It is favored for its affordability and resilience, often sought after for everyday wear and items that endure regular use. Customers appreciate the lower price point, especially in a marketplace that values both quality and cost.

Another variant found is 10k gold, which has a gold content of 41.7%. While less common compared to 14k and 18k, it is still present, particularly in budget-friendly jewelry options.

Lastly, 22k gold, containing 91.7% pure gold, is rare in Senegal. It is often favored for traditional or ceremonial items but is less practical for everyday wear due to its softness.

Gold Price Chart in Senegal

How Gold Price is Determined in Senegal

The determination of gold prices in Senegal is influenced by several key factors. First and foremost, the global gold market plays a significant role. Gold is a commodity traded worldwide; therefore, international prices set on major exchanges like COMEX or London Bullion Market directly impact local prices in Senegal.

Furthermore, the local supply and demand dynamics also affect pricing. Senegal has burgeoning artisanal and small-scale mining (ASM) sectors, where local miners produce gold. When supply from these sources fluctuates, it can lead to changes in local market prices.

Additionally, the economic conditions within Senegal, including inflation rates and currency stability, influence gold prices. As gold is often viewed as a safe haven asset, during times of economic uncertainty or inflation, demand for gold can increase, thus driving up prices.

Lastly, government policies and regulations on mining and exports further shape the gold market. Taxes, export duties, and any changes in legal frameworks can affect the profitability for miners, subsequently impacting the prices at which gold is sold in the market.

Price of Gold Bullion in Senegal in West African CFA Franc

  • The price of gold bullion 5 grams 24K in Senegal: 255,655.58 West African CFA Franc
  • The price of gold bullion 10 grams 24K in Senegal: 511,311.16 West African CFA Franc
  • The price of gold bullion 20 grams 24K in Senegal: 1,022,622.33 West African CFA Franc
  • The price of gold bullion 50 grams 24K in Senegal: 2,556,555.82 West African CFA Franc
  • The price of gold bullion 100 grams 24K in Senegal: 5,113,111.64 West African CFA Franc
  • The price of gold bullion 250 grams 24K in Senegal: 12,782,779.09 West African CFA Franc
  • The price of gold bullion 500 grams 24K in Senegal: 25,565,558.18 West African CFA Franc
  • The price of gold bullion 1000 grams 24K in Senegal: 51,131,116.36 West African CFA Franc

Predictions for Gold Prices in Senegal

The gold market in Senegal is experiencing significant attention due to the country's rich mineral resources and burgeoning mining sector. As of now, analysts predict that gold prices in Senegal are likely to see an upward trend in the coming months. This is largely attributed to global economic uncertainties, inflationary pressures, and geopolitical tensions, which typically drive investors towards safe-haven assets like gold.

Furthermore, Senegal's government has been actively promoting mining investments, which could enhance production capacity and potentially stabilize local gold prices. However, fluctuations in international gold prices will continue to influence the domestic market. Experts believe that if global prices rise significantly, we might see local gold prices follow suit. Additionally, increased exploration and mining activities in regions like Sabodala and other areas could lead to improved supply and impact pricing.

Overall, while the short-term outlook for gold in Senegal appears positive, local investors should stay informed about global market trends and government policies that could affect gold prices in the future. As always, staying updated is crucial for making informed investment decisions.

Gold price in Senegal in October 2024 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
10 October 2024 1,557,443.78 50,078.58 45,901.67 43,809.95 37,546.86 29,220.33
9 October 2024 1,564,643.91 50,310.09 46,113.88 44,012.49 37,720.44 29,355.42
8 October 2024 1,580,214.26 50,810.75 46,572.77 44,450.47 38,095.81 29,647.55
7 October 2024 1,581,820.06 50,862.38 46,620.10 44,495.64 38,134.52 29,677.67
6 October 2024 1,584,283.93 50,941.61 46,692.72 44,564.95 38,193.92 29,723.90
5 October 2024 1,584,283.93 50,941.61 46,692.72 44,564.95 38,193.92 29,723.90
4 October 2024 1,585,213.37 50,971.49 46,720.11 44,591.09 38,216.33 29,741.34
3 October 2024 1,560,994.73 50,192.76 46,006.33 43,909.84 37,632.47 29,286.96
2 October 2024 1,572,315.70 50,556.77 46,339.99 44,228.29 37,905.39 29,499.36
1 October 2024 1,553,865.36 49,963.52 45,796.21 43,709.29 37,460.59 29,153.20
30 September 2024 1,561,707.47 50,215.67 46,027.33 43,929.89 37,649.65 29,300.33
29 September 2024 1,561,018.69 50,193.53 46,007.03 43,910.51 37,633.04 29,287.41
28 September 2024 1,561,018.69 50,193.53 46,007.03 43,910.51 37,633.04 29,287.41
27 September 2024 1,570,296.85 50,491.86 46,280.48 44,171.50 37,856.72 29,461.48
26 September 2024 1,566,425.52 50,367.38 46,166.39 44,062.60 37,763.39 29,388.85
25 September 2024 1,558,531.86 50,113.56 45,933.74 43,840.56 37,573.09 29,240.75
24 September 2024 1,558,419.48 50,109.95 45,930.43 43,837.40 37,570.38 29,238.64
23 September 2024 1,542,992.18 49,613.90 45,475.75 43,403.44 37,198.46 28,949.20
22 September 2024 1,540,438.31 49,531.78 45,400.48 43,331.60 37,136.89 28,901.28
21 September 2024 1,540,438.31 49,531.78 45,400.48 43,331.60 37,136.89 28,901.28
20 September 2024 1,522,624.28 48,958.98 44,875.46 42,830.50 36,707.43 28,567.06
19 September 2024 1,517,764.04 48,802.70 44,732.21 42,693.78 36,590.26 28,475.87
18 September 2024 1,511,543.62 48,602.69 44,548.88 42,518.81 36,440.30 28,359.17
17 September 2024 1,519,835.07 48,869.29 44,793.25 42,752.04 36,640.19 28,514.73
16 September 2024 1,528,467.75 49,146.87 45,047.68 42,994.87 36,848.31 28,676.69
15 September 2024 1,528,728.60 49,155.26 45,055.37 43,002.21 36,854.60 28,681.59
14 September 2024 1,528,728.60 49,155.26 45,055.37 43,002.21 36,854.60 28,681.59
13 September 2024 1,520,863.85 48,902.37 44,823.57 42,780.98 36,664.99 28,534.03
12 September 2024 1,501,052.99 48,265.37 44,239.70 42,223.71 36,187.39 28,162.34
11 September 2024 1,499,330.01 48,209.97 44,188.92 42,175.25 36,145.85 28,130.02

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