Welcome to our guide on the gold price in Sanaa, Yemen. We keep you updated on the gold market in Sanaa. This includes prices for 24K, 22K, 21K, 18K, and 14K gold.
If you love gold or just want to know more, this article is for you. It gives you a close look at the gold market in Sanaa.
Key Takeaways
- The current price of 24K gold per gram in Sanaa is 21,254.31 Yemeni rial (YER).
- Gold rates in Sanaa are available for different weight units, such as grams, ounces, kilograms, and tolas.
- Prices are updated live throughout the day, reflecting the real-time fluctuations in the precious metals market.
- The gold market in Sanaa offers a range of purities to cater to the diverse needs of investors and jewelry makers.
- Currency exchange rates, particularly the Yemeni rial against major global currencies, can impact the local gold prices.
Current Gold Rates in Sanaa: Market Overview
The gold market in Sanaa is very lively. It attracts jewelers, traders, and investors. The price of gold changes based on its purity.
24K gold is the most wanted. It costs 21,254.31 Yemeni Rials (YER) per gram. 22K and 21K gold are also popular, priced at 19,468.95 YER and 18,597.52 YER per gram, respectively.
Live Market Rates by Purity
| Gold Purity | Price per Gram (YER) |
|---|---|
| 24K | 21,254.31 |
| 22K | 19,468.95 |
| 21K | 18,597.52 |
Currency Exchange Impact on Gold Prices
The exchange rate between the Yemeni Rial (YER) and the US Dollar (USD) affects gold prices. The USD/YER rate is 250.35. This rate changes the cost of gold souks Yemen and impacts buyers of 24K gold Sanaa.
Today’s Bid and Ask Spreads
The bid and ask spreads for 24K gold in Sanaa show the market’s lively nature. The bid price is 20,593.30 YER. The ask price is 22,861.14 YER. This reflects the market’s balance between supply and demand and the competition among Yemeni jewelers.
Gold Price Variations by Weight Units
In Sanaa, Yemen, gold prices are given in different weights. This helps investors and traders. It’s key to know these prices if you’re into gold investments in Yemen or gold trading in Sanaa.
For 24-karat gold, here are the prices in Sanaa: 1 gram is 21,254.31 Yemeni Rials (YER). 1 ounce is 661,009.12 YER. 1 kilogram is 21,254,312.50 YER. And 1 tola is 247,906.05 YER. These prices let buyers pick the best weight for their needs in gold investments in Yemen or gold trading in Sanaa.
| Weight Unit | Gold Price (24K) |
|---|---|
| 1 Gram | 21,254.31 YER |
| 1 Ounce | 661,009.12 YER |
| 1 Kilogram | 21,254,312.50 YER |
| 1 Tola | 247,906.05 YER |
These price changes help investors and traders in Yemen’s gold market. They can buy and sell based on their needs and budgets. Whether they’re into gold investments in Yemen or gold trading in Sanaa.
Price of Gold in Sanaa: Local Market Analysis
The gold market in Sanaa, Yemen, changes a lot. This is because of global trends and the Yemeni rial’s value. Gold sellers in Sanaa face many challenges due to economic and political issues.
Factors Affecting Local Gold Prices
Many things affect gold prices in Sanaa. Global trends like supply and demand play a big role. Also, the value of the Yemeni rial and political events matter a lot.
Daily Price Fluctuations
Gold prices in Sanaa change a lot every day. Prices for 21K gold have been between 560,036.04 YER and 600,662.64 YER per ounce. This shows how unstable the market is.
Market Trends and Patterns
In early December 2024, gold prices in Sanaa went down a bit. Prices changed from 580,855.98 YER on December 1 to 577,403.87 YER on December 4. But, the market can change fast because of many factors.
| Date | Gold Price (21K, YER/oz) |
|---|---|
| December 1, 2024 | 580,855.98 |
| December 2, 2024 | 579,117.42 |
| December 3, 2024 | 578,260.69 |
| December 4, 2024 | 577,403.87 |
“The Houthi militia’s campaign of extortion and abuse against gold shop owners in Sanaa has further exacerbated the challenges faced by local gold retailers in Yemen.”
The gold market in Sanaa is very complex. It’s influenced by both global and local factors. Gold sellers in Yemen need to be careful and flexible to do well.
Gold Trading Standards and Purity Levels
In Sanaa, Yemen, gold purity is measured in karats. This shows how much pure gold is in an alloy. The highest quality, 24K gold, is 99.9% pure. It’s very popular among jewelry makers and investors.
Other common purities are 22K (91.7% gold), 21K (87.5% gold), and 18K (75% gold). These standards help figure out the value of gold jewelry, coins, and investments in Sanaa.
Knowing these standards is key for smart buying. When you buy 24K gold Sanaa or other gold, you need to understand these basics.
| Gold Purity | Gold Percentage |
|---|---|
| 24K | 99.9% |
| 22K | 91.7% |
| 21K | 87.5% |
| 18K | 75% |
Knowing about gold purity is vital for gold rates Yemen. It helps make sure deals are fair and clear. Always ask for the karat and get a receipt to check the gold’s purity.
Learning about gold standards in Sanaa helps you shop smart. You’ll know you’re getting a good deal on 24K gold Sanaa or other gold items.
Making Charges and Additional Costs
When you look for gold jewelry in the lively Yemeni jewelers and gold souks Yemen, know the extra costs. These charges can change the price of your custom jewelry a lot.
Labor Cost Breakdown
The making charges for gold jewelry in Yemen are between 5% to 15% of the gold’s price. For instance, if gold costs about 12,000 Yemeni Rials (YER) per gram, the making charges could add 600 to 1,800 YER per gram.
Retailer Margins and Commissions
Retailer margins and commissions also affect the price. Big stores might charge more, from 160,000 to 225,000 YER per gram. But smaller stores could offer better prices, between 100,000 and 150,000 YER per gram.
Total Cost Calculation Guide
To figure out the total cost of your gold jewelry in Yemen, add the raw gold price, making charges, and extra fees or taxes. Knowing these costs helps you make a smart choice and get the best value.
Exploring the Yemeni jewelers and gold souks Yemen is exciting. But knowing the making charges and extra costs helps you plan and enjoy your purchase. This way, you can find gold jewelry that matches your style and budget.
Gold Investment Options in Yemen
If you want to invest in gold in Yemen, you have many choices. You can buy physical gold like jewelry, coins, and bars. This is a good choice because gold is safe and can protect your money in Yemen’s economy.
When you buy physical gold, you can pick how pure it is. Most people choose 24-karat gold for investing. The gold market in Sanaa has many products. This lets you pick what fits your goals and how much risk you can take.
- Physical Gold Purchases: Jewelry, Coins, Bars
- Gold Purity Levels: 24-Karat Gold Preferred for Investments
- Diverse Gold Products Available in the Sanaa Precious Metals Market
Yemeni investors can also look at other gold investment options. These include ETFs or stocks in gold mining companies. These options let you be part of the gold market without owning gold. But, you should know the risks and rules before you invest.
| Investment Option | Advantages | Disadvantages |
|---|---|---|
| Physical Gold (Jewelry, Coins, Bars) | Tangible asset, hedge against inflation, diversification | Storage and security concerns, transaction costs |
| Gold ETFs and Mining Stocks | Convenient, liquid, potential for capital appreciation | Exposure to market volatility, regulatory considerations |
It’s important to know about gold investments Yemen and the precious metals market Sanaa. This helps you make smart choices that fit your money goals and how much risk you can handle.
Conclusion
The gold market in Sanaa is always changing. Prices go up and down because of world trends and local things. Gold is still important in Yemen for investing and culture.
Gold prices in Sanaa can change a lot. It’s key to know the current prices and what makes them change. This helps you make smart choices in the Sanaa gold market.
Gold is big in Sanaa’s economy and culture. Knowing the market well helps you make good choices. This way, you can be part of the changing gold market in Sanaa.