As of December 4, 2024, the gold price in Uganda is 9,743,726.76 Ugandan Shillings (UGX). It went up by 0.1%, or 9,315.80 UGX, from yesterday. This change is watched closely, with updates at 3:30:03 pm Kampala time.
The gold market in Uganda is quite active. Prices today went from 9,772,529.00 UGX to 9,717,209.53 UGX. These changes show how gold prices can shift due to many factors.
Key Takeaways
- The current gold price per ounce in Uganda is 9,743,726.76 UGX.
- Gold prices in Uganda have increased by 0.1% (+9,315.80 UGX) today.
- The market volatility status is medium, with today’s price range between 9,772,529.00 UGX and 9,717,209.53 UGX.
- Factors such as supply and demand, currency exchange rates, economic stability, and government policies influence gold prices in Uganda.
- Uganda’s emerging mining sector and potential gold deposits could impact the future gold market in the country.
Current Gold Market Overview in Uganda
The gold commodity Uganda market is key to Uganda’s economy. Prices change due to global and local factors. Right now, gold costs UGX 9,731,385 per ounce in Uganda.
This is up from UGX 7,709,705 per ounce last year. It shows how fast the buying gold Uganda market can change.
Today’s Gold Rates in UGX
Gold prices in Uganda depend on supply and demand. There’s no set formula for the gold rate Uganda. The highest price was UGX 10,222,343 per ounce on October 30, 2024.
As of December 4, 2024, prices range from UGX 9,437,416.51 to UGX 10,473,380.53. This shows how the market can change quickly.
Market Volatility and Price Fluctuations
Gold prices change because it’s traded all the time. This change can help advanced traders make money. The spread and labor costs also affect gold prices in Uganda.
Regional Price Variations Across Major Cities
The gold rate Uganda is the same in cities like Kampala and Gulu. It’s UGX 9,804,314 per ounce everywhere. This shows the gold market in Uganda is strong and connected.
| City | Gold Price (UGX per ounce) |
|---|---|
| Kampala | 9,804,314 |
| Gulu | 9,804,314 |
| Lira | 9,804,314 |
| Mbarara | 9,804,314 |
| Jinja | 9,804,314 |
“The price of gold is determined by the global market, not by a fixed mathematical formula. This makes it an intriguing asset for Ugandan investors to consider as part of a diversified portfolio.”
Understanding Gold Purity and Pricing Standards
In Uganda, gold purity is key. It’s measured in karats, with 24K being the purest at 99.999%. This pure gold is very valuable, priced at 314,893.47 UGX per gram.
The price changes with purity. For example, 22K gold costs 288,731.15 UGX and 18K gold is 236,406.51 UGX per gram.
Gold prices in Uganda also depend on weight. This includes ounces, grams, kilograms, and tolas. This helps understand the value of gold bullion Uganda and Ugandan precious metals.
| Gold Purity | Price per Gram (UGX) |
|---|---|
| 24K (99.999% pure) | 314,893.47 |
| 22K (91.6% pure) | 288,731.15 |
| 18K (75% pure) | 236,406.51 |
Knowing about gold purity standards and prices in Uganda is important. It helps investors and those interested in Ugandan precious metals. This knowledge leads to better decisions and fair trading.
“Gold purity is the foundation of a reliable and trustworthy precious metals market in Uganda.”
Price of Gold in Uganda: Historical Trends and Performance
Uganda’s gold market is getting more attention. The country is becoming a big player in the global gold world. In the last 30 days, the gold price in Uganda has dropped by 2.02%, from 10,006,759.34 UGX to 9,804,313.57 UGX per ounce. This change is part of a bigger trend. It shows how the gold market in Uganda deals with different factors.
30-Day Price Movement Analysis
The gold price has changed a lot in the last 30 days. The year-to-date high was 10,062,667.31 UGX, and the low was 9,397,455.91 UGX. These changes show how the gold market in Uganda is always moving.
Year-to-Date Performance Review
Looking at the gold investment performance in Uganda this year, we see ups and downs. The year-to-date high price of 10,062,667.31 UGX per ounce shows good potential. But the low of 9,397,455.91 UGX reminds us of the market’s ups and downs.
Key Factors Affecting Price Changes
The changes in the gold price in Uganda come from many things. These include global trends, changes in the local currency, and economic signs. Knowing these important factors helps investors and buyers understand the gold market in Uganda better.
“The gold industry in Uganda has been growing. More small-scale miners are joining. This makes the gold price trends in Uganda more dynamic.”
Gold Investment Options in Uganda
When you think about investing in gold in Uganda, you have many choices. You might want to look into investing in Ugandan gold trading or gold investment strategies. Uganda has options for everyone.
One popular choice is buying physical gold. This includes coins, bars, and jewelry. You can buy gold in different purities and weights. For example, you can start with 1 gram of 24-karat gold for 314,893.47 UGX.
Another option is gold-backed financial products. These let you invest in gold without needing to store it. You can look into exchange-traded funds (ETFs) or other products that follow gold’s performance.
| Investment Option | Minimum Investment | Purity Levels | Weight Units |
|---|---|---|---|
| Physical Gold | 1 gram | 24K to 8K | Ounces, Grams, Kilograms, Tolas |
| Gold-backed Financial Products | Varies | N/A | N/A |
Choosing the right gold investment option is key. You need to know about Uganda’s gold market, purity standards, and risks. Working with a trusted provider like Midas Africa Gold Co. can help you make the most of your investment.
“Gold has been a reliable store of value for centuries, and investing in it can be a wise decision, especially in times of economic uncertainty.”
Buying and Selling Gold in Uganda
In Uganda, buying and selling gold is big business. You’ll find many licensed dealers and trading centers. They make sure your gold deals are done right and follow the law.
Licensed Dealers and Trading Centers
Uganda’s gold market has many trusted dealers and centers. Places like Trade Panel International Ltd. are known for quality and service. They buy gold from local miners, offering you many choices.
Transaction Fees and Charges
Buying or selling gold in Uganda comes with fees. It’s smart to shop around for the best deal. The USD to UGX rate also affects gold prices.
Legal Requirements and Documentation
Gold deals in Uganda must follow the law. You might need licenses, permits, and proof of where the gold came from. This ensures your deal goes smoothly and legally.