Investors and those interested in gold should know the latest prices in Ethiopia. The gold price changes due to global and local market factors. Today, it’s 329,582 Ethiopian Birr (Br) per ounce.
This price has gone up from 335,656 Br on December 2, 2024. It’s also much higher than last year’s price, 114,139 Br.
The spot price of gold in Ethiopia is 329,582 Br per ounce. This price changes every day. It’s influenced by many factors, like investment strategies and business needs.
Key Takeaways
- The current gold price in Ethiopia is 329,582 Br per ounce, up from 335,656 Br in early December 2024.
- Gold prices in Ethiopia are influenced by supply and demand dynamics, with the spot price reflecting immediate contract settlements.
- Investors can track live gold price updates in Ethiopian Birr on various platforms to stay informed about the latest market trends.
- Understanding the factors that drive gold prices, such as macroeconomic and geopolitical events, can help investors make informed decisions.
- Diversifying a portfolio with a small allocation to gold can be a prudent investment strategy, depending on one’s risk tolerance.
Current Gold Market Overview in Ethiopia
The gold market in Ethiopia is lively and full of action. The cost of gold bullion and gold price per gram shows the global gold industry’s trends and ups and downs. From Addis Ababa’s busy streets to remote mining areas, the gold market’s heartbeat is felt everywhere.
Live Gold Price Updates
As of December 3, 2024, at 07:24 UTC, the live gold rate in Ethiopia for 24K gold per gram is 10,819.25 Ethiopian Birr (ETB). The market has seen a 2.14% change. Bid and ask prices are 10,482.77 ETB and 11,637.19 ETB, respectively. The USD/ETB exchange rate is 127.10, with a 1.76% change.
Market Volatility and Daily Changes
The gold market in Ethiopia is very volatile. Prices change a lot during the day for different weights and purities. Global economic conditions, world events, and supply and demand changes all play a part in these price swings.
Currency Exchange Impact on Gold Rates
The currency exchange rate is key in setting gold prices in Ethiopia. The USD/ETB exchange rate, currently at 127.10, greatly affects gold prices. Changes in the national currency’s value can also change gold costs, showing how connected the Ethiopian gold market is to the world’s finances.
Price of Gold in Ethiopia Across Different Weights
In gold trading Ethiopia, the price changes with the weight. Right now, 1 ounce of 24K gold costs 336,478.77 ETB. If you want to buy gold Ethiopia, 1 kilogram of 24K gold is 10,819,252.95 ETB.
For smaller amounts, 1 tola of 24K gold is 126,193.60 ETB. If you’re into gold investment Ethiopia, 1 gram of 24K gold is 10,819.25 ETB.
Remember, these prices can change. They update often to show the latest market rates. Knowing the gold price in Ethiopia helps you decide when to buy gold in Ethiopia or invest in gold.
| Weight Unit | 24K Gold Price in ETB |
|---|---|
| 1 Ounce | 336,478.77 |
| 1 Kilogram | 10,819,252.95 |
| 1 Tola | 126,193.60 |
| 1 Gram | 10,819.25 |
“Understanding the current gold prices across different weight units in Ethiopia is crucial for making informed gold investment Ethiopia decisions.”
Understanding Gold Purity and Pricing
The purity of gold is key in Ethiopia’s market. The karat (K) rating shows how pure it is. 24K gold is the purest, at 99.999% pure.
This makes 24K gold very valuable. It costs 10,816.16 ETB per gram now.
Lower karat levels mean less pure gold and lower prices. For example, 22K gold costs 9,914.81 ETB per gram. 18K is 8,112.12 ETB, and 14K is 6,309.43 ETB. The cheapest, 6K, is 2,704.04 ETB per gram.
24K Gold Rates and Specifications
24K gold is the purest and most expensive in Ethiopia. It has 99.999% purity. This makes it very valuable, costing 10,816.16 ETB per gram.
People love 24K gold for its quality and value.
Different Karat Options (22K, 18K, 14K)
- 22K gold: Costs 9,914.81 ETB per gram. It’s a good mix of purity and price.
- 18K gold: Priced at 8,112.12 ETB per gram. It’s popular for being less expensive but still pure.
- 14K gold: Common in jewelry, 14K gold costs 6,309.43 ETB per gram. It’s more affordable.
Price Variations by Purity Level
In Ethiopia, gold’s purity and price are linked. Lower karat levels mean lower prices. This helps buyers choose based on budget and purity.
“Gold’s value is intrinsically linked to its purity, and the Ethiopian market recognizes this by pricing each karat level distinctively.”
Gold Investment Opportunities in Ethiopian Markets
Ethiopia’s gold market is full of chances for investors. You can buy gold in grams or in bigger amounts. The market has something for everyone.
Looking to buy a little gold? You can get from 1 gram to 1,000 grams. Prices start at 10,816.16 ETB and go up to 10,816,161.67 ETB. This lets you pick what fits your budget and needs.
The market also has gold of different purities, from 6K to 24K. This means you can pick the gold that fits your investment plan. It’s all about what you want to achieve with your gold investment.
Gold prices have gone up by 2.1% in the last 24 hours. This is good news for gold investment Ethiopia. The Ethiopian gold market is showing strong signs. It’s a great time to buy gold Ethiopia.
| Gold Weight | Price (ETB) |
|---|---|
| 1 gram | 10,816.16 |
| 10 grams | 108,161.67 |
| 100 grams | 1,081,616.67 |
| 1,000 grams | 10,816,161.67 |
“The development plans for the Tulu Kapi operation integrate both an open pit and underground mine, with planned gold exports to reach US$300Mpa when both mines are in production, and a combined mine production extended from eight to 10 years starting in 2025.”
Ethiopia is a great place to invest in gold. With a growing industry, many options, and a positive outlook, it’s a chance you shouldn’t miss. Invest in the Ethiopian gold market and buy gold Ethiopia.
Historical Price Analysis and Market Trends
The gold price trends in Ethiopia have changed a lot over time. The price of gold went up from 114,139 Br per ounce last year to 329,582 Br now. This shows a big increase in just one year.
Recently, the price of gold has changed by -2.3% to +2.6% each day. This shows how fast and changing the market is.
Market Performance Indicators
Looking at the market, we see a mostly rising trend in the Ethiopian gold market analysis. But, there have been big ups and downs. This means we need to watch closely and make smart gold investment forecast plans.
Future Price Projections
Experts think the gold price in Ethiopia will keep going up. This good news comes from looking at past trends and new rules. These rules might make more gold available, helping the country’s money reserves grow.
“The new guidelines for gold pricing in Ethiopia link the purchase price of gold directly to the daily selling rate of foreign currency, which is expected to attract more suppliers and boost the formal economy.”
As the Ethiopian gold market analysis keeps changing, everyone will watch how new rules affect gold sales and money coming in. They hope these changes will make the gold investment forecast even better for the country.
Conclusion
The gold market in Ethiopia is full of changes and complex factors. These include global trends and local demand. The price of gold in Ethiopia shows how these forces work together.
This article gives you a deep look into the gold market. It shows how gold, silver, and platinum prices affect Ethiopia’s economy. It’s important for leaders and investors to watch these trends closely.
Keeping up with the latest gold price data in Ethiopia helps you understand the market. This is useful for anyone interested in gold, jewelry, or the economy. This article aims to help you use this knowledge to your advantage.