Gold Prices Hit 7, 084 Shillings Per Gram In Kenya

After tumbling in the previous session, gold prices in Kenya edged higher at 7,084.6 Kenyan shillings per gram on 26th April 2022.

In the international markets, gold prices also slightly rose higher. Spot gold was up 0.3 percent at 220,114.62 shillings per ounce.

Among other precious metals, spot silver gained 1 percent to 2,759.44 shillings per ounce, platinum rose 0.6 percent to 107,138.20 shillings, and palladium climbed 2.1 percent to 253,288.13 Kenyan Shillings.

Meanwhile, on the Multi Commodity Exchange (MCX), gold prices were up 0.19 percent to 77,885.62 shillings per 10 gram, while silver rose 0.56 percent to99,057.05 shillings per kilogram.

In the previous session, gold had tumbled 1.6 percent per 10 grams to hit a near one-month low, while silver had slumped 2.25 percent per kilogram.

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Demand for gold and silver continues to increase as Covid – 19 cases keep rising in China. And even though the war between Russia and Ukraine remains a significant determinant of the prices, the yellow metal remains the haven pushed by geopolitical tensions, inflation fears, and a steady inflow in gold-backed ETFs.

According to market analysts, although the war between Russia and Ukraine and global inflation continues to worsen, market participants are now more focused on rising yields in U.S. debt instruments such as bonds and Treasuries, reducing the luster of gold and silver thus giving strong support to the commodities.

Today’s Gold Prices in Kenya

Gold Unit                                Gold Rate in Kenyan Shilling

• Gram 24K                         7,084.2 KES
• Gram 23K                         6,789.1 KES
• Gram 22K                         6,493.9 KES