Gold Rates in Kenya Register Upward Growth as 2022 Turns

Over the past several decades, gold rates have been influenced by many different factors. 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.

A weaker dollar makes gold relatively less expensive for foreign buyers and thus may lift prices.

On the other hand, a stronger dollar makes gold relatively more expensive for foreign buyers, thus possibly depressing prices.

Fiat, or paper currencies, tend to lose value over time. If this continues to be the case, gold could potentially continue in an uptrend as investors look to it for its perceived safety and its potential as a hedge against declining currency values.

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 6^th, for instance, the 24K Gold Price in Kenya is 6,567.43 shillings per Gram whereas the 10 Grams Gold Rate is 65,542.7 shillings. The 6K gold price, on the other hand, retails at 1,641.86 shillings.

Gold Rates in Kenya           

At the same time, 750 gold price per gram on January 6th is 4,544.90 shillings, the 24k gold price per 10 grams 60,598.54 shillings while 22k gold price per 10 grams is 55,549.00 shillings.

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The price for 21k gold per 10 grams on the other hand is 53,024.00 shillings and the 18kt gold price per 10 grams is 45,449.00 shillings.

Gram Gold Bar Price 

This depicts an increase as compared to the prices recorded in late December 2021 which stood at 6,039.45 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.

The 22-karat gold prices in the last year fell as low as 5,122.03 shillings on 30-Mar-2021 per gram and the 22-karat gold rose as high as 5,953.17 shillings on 06-Jan-2021 per gram.