Gold Prices Continue Rising Amidst Economic Uncertainties In Kenya

Over the past few days, Gold Prices have been on the rise in the face of broad market volatility, decoupling somewhat from its typical price drivers — bonds and the dollar.

Despite the challenging macro backdrop of supply chain issues, surging inflation, and lingering pandemic risks, strategists have noted that some of the investment flows into gold have been very resilient.

As of 22^nd February 2022, 24K Gold Price in Kenya is 6,973.8 shillings per Gram. 10 Grams Gold Rate for the same karat is 69,737.8 shillings.

This depicts a moderate increase in Kenyan Shilling per ounce (change percent of 0.36% compared to yesterday rates, Monday 21, February 2022).

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The table below shows the prices for different gold karats in Kenyan shillings

Today Gold Prices in Kenya

For the last 3.5 years, the price of gold has appreciated 82 percent from 1,150 shillings an ounce to 1,792 shillings. Its year-to-date performance stands at 42.8 percent.

Gold is viewed as a standard value for currencies all over the world. When the stocks are down, gold goes up. Investing in gold will help you balance your portfolio.

It also performs better in times of economic uncertainty and it is called a crisis commodity as it has excellent resilience. It acts as a hedge against inflation. Any decline in the value of the dollar increases the gold prices.