Monday, 7 October 2024, 3:25 AM
Gold ounce price in South Africa is 46,184.92 South African Rand per ounce, Gold gram price is 1,485.05 per gram karat 24, 1,361.29 South African Rand per gram karat 22, 1,299.41 South African Rand per gram karat 21, 1,113.78 South African Rand per gram karat 18.
Gold Unit | South African Rand | U.S. Dollar |
---|---|---|
Gold Ounce | 46,184.92 | 2,645.50 |
Gold Gram Karat 24k | 1,485.05 | 85.06 |
Gold Gram Karat 22k | 1,360.30 | 77.92 |
Gold Gram Karat 21k | 1,299.41 | 74.43 |
Gold Gram Karat 18k | 1,113.78 | 63.80 |
Gold Gram Karat 14k | 868.75 | 49.76 |
Gold Gram Karat 12k | 742.52 | 42.53 |
Gold Gram Karat 10k | 619.26 | 35.47 |
Gold Gram Karat 9k | 556.89 | 31.90 |
Gold Gram Karat 8k | 494.52 | 28.33 |
In South Africa, the most commonly used gold karats are 9K, 14K, 18K, and 22K. Starting with 9K gold, this alloy contains 37.5% pure gold and is often favored for its durability and affordability. It's a popular choice for everyday jewelry.
Next is 14K gold, containing 58.3% pure gold. This karat is widely appreciated for its balance of quality and strength, making it suitable for a range of jewelry pieces, including engagement rings and bracelets.
The 18K gold is another popular choice in South Africa, comprised of 75% pure gold. Its rich color and lustrous finish make it a favorite for high-end jewelry, appealing to those looking for both beauty and value.
Lastly, 22K gold, which contains 91.7% pure gold, is less commonly used for daily wear but is often sought after for traditional and cultural jewelry. Its vibrant hue embodies luxury and is treasured for its quality, although it’s softer and more prone to scratches.
The price of gold in South Africa is influenced by several factors that operate both locally and globally. One of the primary determinants is the global market price of gold, which is set based on supply and demand dynamics in major financial centers like London and New York. As South Africa is one of the world's largest gold producers, the global price directly impacts the local market.
Additionally, the exchange rate of the South African Rand (ZAR) against the US Dollar (USD) plays a crucial role. A weaker Rand makes gold more expensive in local currency terms, thus raising the local price. Conversely, if the Rand strengthens, local gold prices may drop.
Supply factors also affect pricing. For instance, disruptions in mining due to labor strikes or changes in mining regulations can restrict supply, leading to higher prices. Furthermore, inflation rates and interest rates in South Africa can influence investor behavior, affecting demand for gold as a safe-haven asset.
Overall, the interplay of these factors creates a complex landscape for gold pricing in South Africa, ensuring its status as a critical element of the national economy.
The gold market in South Africa has been under scrutiny as analysts make predictions based on various economic indicators. Strong demand for gold, both as an investment and a safe haven during turbulent economic times, is expected to influence prices significantly. In 2024, analysts forecast that gold prices could experience volatility due to factors such as inflation rates, currency fluctuations, and geopolitical uncertainties.
Many experts believe that if the U.S. dollar weakens or if global tensions rise, gold will likely see an uptick in demand, pushing prices higher. Additionally, the ongoing challenges in South Africa’s mining sector, including labor strikes and regulatory hurdles, could further impact gold production and supply, thereby affecting prices.
Gold is traditionally seen as a hedge against inflation, and with inflation rates expected to remain elevated, investors may turn towards gold as a more stable asset. However, predictions are often uncertain, and it is essential for investors to stay informed about the market trends and external factors that could influence the gold price landscape in South Africa.
In summary, while there are optimistic signs for gold in South Africa, potential risks and economic shifts warrant cautious observation.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
6 October 2024 | 46,372.68 | 1,491.08 | 1,366.72 | 1,304.44 | 1,117.95 | 870.03 |
5 October 2024 | 46,132.63 | 1,483.36 | 1,359.64 | 1,297.68 | 1,112.17 | 865.53 |
4 October 2024 | 46,532.27 | 1,496.21 | 1,371.42 | 1,308.92 | 1,121.80 | 873.03 |
3 October 2024 | 46,186.74 | 1,485.10 | 1,361.24 | 1,299.20 | 1,113.47 | 866.54 |
2 October 2024 | 46,074.27 | 1,481.49 | 1,357.92 | 1,296.04 | 1,110.76 | 864.43 |
1 October 2024 | 45,563.59 | 1,465.07 | 1,342.87 | 1,281.68 | 1,098.45 | 854.85 |
30 September 2024 | 45,436.17 | 1,460.97 | 1,339.11 | 1,278.09 | 1,095.38 | 852.46 |
29 September 2024 | 45,401.06 | 1,459.84 | 1,338.08 | 1,277.10 | 1,094.53 | 851.80 |
28 September 2024 | 45,401.06 | 1,459.84 | 1,338.08 | 1,277.10 | 1,094.53 | 851.80 |
27 September 2024 | 46,010.96 | 1,479.45 | 1,356.06 | 1,294.26 | 1,109.23 | 863.25 |
26 September 2024 | 45,774.73 | 1,471.86 | 1,349.09 | 1,287.62 | 1,103.54 | 858.81 |
25 September 2024 | 46,017.82 | 1,479.67 | 1,356.26 | 1,294.45 | 1,109.40 | 863.37 |
24 September 2024 | 45,687.34 | 1,469.05 | 1,346.52 | 1,285.16 | 1,101.43 | 857.17 |
23 September 2024 | 45,642.52 | 1,467.61 | 1,345.20 | 1,283.90 | 1,100.35 | 856.33 |
22 September 2024 | 45,628.87 | 1,467.17 | 1,344.79 | 1,283.51 | 1,100.02 | 856.08 |
21 September 2024 | 45,750.40 | 1,471.07 | 1,348.38 | 1,286.93 | 1,102.95 | 858.36 |
20 September 2024 | 45,364.25 | 1,458.66 | 1,337.00 | 1,276.07 | 1,093.64 | 851.11 |
19 September 2024 | 44,945.13 | 1,445.18 | 1,324.64 | 1,264.28 | 1,083.54 | 843.25 |
18 September 2024 | 45,121.03 | 1,450.84 | 1,329.83 | 1,269.23 | 1,087.78 | 846.55 |
17 September 2024 | 45,457.22 | 1,461.65 | 1,339.74 | 1,278.68 | 1,095.88 | 852.86 |
16 September 2024 | 45,751.42 | 1,471.11 | 1,348.41 | 1,286.96 | 1,102.98 | 858.38 |
15 September 2024 | 45,877.26 | 1,475.15 | 1,352.11 | 1,290.50 | 1,106.01 | 860.74 |
14 September 2024 | 45,875.71 | 1,475.10 | 1,352.07 | 1,290.46 | 1,105.97 | 860.71 |
13 September 2024 | 45,503.09 | 1,463.12 | 1,341.09 | 1,279.97 | 1,096.99 | 853.72 |
12 September 2024 | 45,055.67 | 1,448.74 | 1,327.90 | 1,267.39 | 1,086.20 | 845.32 |
11 September 2024 | 45,088.16 | 1,449.78 | 1,328.86 | 1,268.30 | 1,086.99 | 845.93 |
10 September 2024 | 44,653.50 | 1,435.80 | 1,316.05 | 1,256.08 | 1,076.51 | 837.78 |
9 September 2024 | 44,612.50 | 1,434.49 | 1,314.84 | 1,254.92 | 1,075.52 | 837.01 |
8 September 2024 | 44,630.00 | 1,435.05 | 1,315.36 | 1,255.41 | 1,075.94 | 837.34 |
7 September 2024 | 44,518.70 | 1,431.47 | 1,312.07 | 1,252.28 | 1,073.26 | 835.25 |