Gold Traders Hopeful for Sustained Production Growth as 2022 Unfolds

By Lynnet Okumu / Published January 24, 2022 | 2:35 pm




KEY POINTS

In the last 1 year, the highest 24 karat gold rate was recorded on 06-Jan-2021, which was as high as 6,494.37 shillings per gram.


Gold Prices

KEY TAKEAWAYS


One of the biggest drivers of gold is currency values. Because gold is denominated in dollars, the greenback can have a significant impact on the price of gold.


Despite some challenges in 2021, most gold traders in East Africa are pleased they exited the year successfully and are now forecasting Production Growth in 2022.

Gold’s price history has seen some significant ups and downs, and dramatic price changes may be fueled by such issues as central bank buying, inflation, geopolitics, monetary policy equity markets, and more.

One of the biggest drivers of gold is currency values. Because gold is denominated in dollars, the greenback can have a significant impact on the price of gold.

Gold has long been considered a reliable store of wealth and value, and that reputation is not likely to change any time soon. This is evidenced by the gold market, whose prices register negligible fluctuations.

On January 24th, for instance, the 24K Gold Price in Kenya is 6,714.35 shillings per Gram whereas the 10K Grams Gold Rate is 2,797.64 shillings. The 12K gold price, on the other hand, retails at 3,357.17 shillings.

ALSO READ: Top 6 Key Drivers Of Real Estate In Kenya In 2022

The table below shows the current today’s gold prices in Kenya in Kenyan Shilling (KES) according to the local time zone of Nairobi. This includes gold prices in ounces and grams of all gold karats; karat 24, karat 22, karat 21, karat 18, and karat 14.

Gold Price in Kenya in Kenyan shillings (International Rates)

Gold UnitKenyan ShillingU.S. Dollar
Gold Ounce208,816.181,838.24
Gold gram karat 246,714.3559.11
Gold gram karat 226,154.8254.18
Gold gram karat 215,875.0551.72
Gold gram karat 185,035.7644.33
Gold gram karat 143,916.7034.48
Gold gram karat 123,357.1729.55
Gold gram karat 102,797.6424.63

 

Gold Prices in Kenya in gold shops in Kenyan shillings (Buy and Sell)

Gold UnitBuy PriceSell Price
Gold Ounce208,816.18209,338.22
Gold gram karat 246,714.356,731.13
Gold gram karat 226,154.826,170.20
Gold gram karat 215,875.055,889.74
Gold gram karat 185,035.765,048.35
Gold gram karat 143,916.703,926.49
Gold gram karat 123,357.173,365.57
Gold gram karat 102,797.642,804.64

This depicts an increase as compared to the prices recorded in early January 2022 for 24K Gold which stood at 6,598.84 shillings.

In the last 1 year, the highest 24 karat gold rate was recorded on 06-Jan-2021, which was as high as 6,494.37 shillings per gram and the lowest 24 karat gold rate was recorded on 30-Mar-2021, which was as low as 5,587.67 shillings per gram.






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