Gold Prices Remain Resilient Adding Glitter to Hopeful Traders

Over the past few weeks, gold prices have remained resilient 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.

Experts note that gold prices were set for second straight weekly gain amid fears of a possible Russian invasion on Ukraine, and as data showing a spike in US consumer prices boosted the metal’s appeal as a hedge against inflation.

ALSO READ: 5 Promising Pathways for Enhancing Local Tourism in Kenya

As of 14^th February 2022, the 24K Gold Price in Kenya is 6,774.1 shillings per Gram, while 1 Kilo Gold Price is 79,136.8 shillings. An Ounce Price is 211,031.6 shillings, and Tola Gold Price is 79,136.8 shillings.

Compared to 13^th February the same year, the gold prices have marginally dropped

Yesterday Gold Rates in Kenya Shillings

Quantity         22K Gold Price     24K Gold Price

1 Gram               6,238.7                6,805.8

5 Grams             31,193.4             34,029.2

10 Grams           62,386.9             68,058.4

20 Grams           124,773.7          136,116.8

50 Grams           311,934.3          340,291.9

100 Grams         623,868.5          680,583.9

The current gold price is the moving average of the last four days (e.g., 6,741.2 KES). Therefore, it is expected that the gold price might rise.

Moreover, the minimum gold rate recorded on 28^th January 2022 was 6,519.9 shillings. In comparison, the maximum recorded gold rate was 6,805.8 shillings, and it was observed on 13^th February 2022.