If you want to know about gold prices in the Republic of the Congo, LivePriceofGold is the best place. On December 3, 2024, at 07:24 UTC, 24K gold costs 53,236.73 XAF per gram. This site gives live gold prices for different purities like 24K, 22K, 21K, 18K, and 14K.
It also shows the current gold price per ounce, which is 1,654,216 XAF. This is higher than yesterday’s price of 1,650,690 XAF.
Key Takeaways
- Live gold rates for different purities, including 24K, 22K, 21K, 18K, and 14K, are available on LivePriceofGold.
- The current price of 24K gold per gram is 53,236.73 XAF, and the price per ounce is 1,654,216 XAF.
- Gold prices in Congo have seen a slight increase, up from 1,650,690 XAF per ounce on December 2, 2024.
- The website provides real-time updates on gold prices in various weight measurements (gram, ounce, kilogram, tola) and currencies (USD, EUR, GBP, AUD, CAD).
- The highest gold price in Congo in the last 8 years was 1,709,578 XAF per ounce on November 22, 2024.
Current Gold Market Overview in Congo
The gold mining in Democratic Republic of Congo is always changing. Prices go up and down based on how much gold there is and how much people want it. Right now, the spot gold price for immediate settlement in the DRC is 1,654,216 XAF per ounce. Prices change every minute to show the latest market news.
Live Gold Rates and Market Updates
The bid price for 24K gold/gram is 51,581.07 XAF. The ask price is 57,261.43 XAF. These prices change a lot because of the global artisanal gold mining Congo market.
Understanding Bid and Ask Prices
The bid price is the highest a buyer wants to pay for gold. The ask price is the lowest a seller will accept. The difference between these prices is called the bid-ask spread. It changes based on how volatile the market is and how much money is moving around.
Market Trading Hours and Updates
Gold is traded all day, every day, except weekends. This includes the Congo gold prices. The Republic of Congo uses the Central African CFA francs (XAF) for gold prices. Live updates are given in real-time to show the latest market news.
“The gold mining in Democratic Republic of Congo is a dynamic and ever-changing landscape, with prices fluctuating in response to supply and demand.”
Gold Price Variations by Purity
In the Democratic Republic of the Congo (DRC), gold prices change with purity. The 24K gold price is 243,964.11 Congolese Francs (CDF) per gram. 22K gold costs 223,633.77 CDF per gram, and 18K gold is 182,973.08 CDF per gram.
| Gold Purity | Price per Gram (CDF) |
|---|---|
| 24K | 243,964.11 |
| 23K | 233,798.94 |
| 22K | 223,633.77 |
| 21K | 213,468.59 |
| 18K | 182,973.08 |
| 14K | 142,312.40 |
| 10K | 101,651.71 |
| 9K | 91,486.54 |
| 8K | 81,321.37 |
| 6K | 60,991.03 |
These prices are for raw gold. Extra fees and labor costs might be added. The more pure the gold, the more it’s worth, making it more expensive in the Congo.
Gold prices in the DRC can change for many reasons. These include global market trends, supply and demand, and local economic factors. Knowing these changes helps buyers make smart choices when buying gold in the Congo.
Price of Gold in Congo: Factors Affecting Market Rates
The price of gold in Congo changes due to many reasons. These include how much gold is available and how much people want it. Also, what happens in the world and in Congo itself plays a big role.
Gold prices have gone up a lot lately. They have risen by 21% since mid-February 2024. They have also gone up by 32% since October 2023. Experts think gold prices will keep going up, with a future price of US $2,776 per ounce.
Supply and Demand Dynamics
The gold supply in Africa comes from recycling and new mining. Countries like Ghana and South Africa are big gold producers. Together, they make up 90% of Africa’s gold.
Gold is used in many ways. Jewelry uses 48.7% of it. ETFs use 23.2%. Central banks and technology also use gold.
Global Market Influences
Global trends affect gold prices in Congo. Things like what the Federal Reserve does can change prices. Also, when people feel scared, they buy more gold.
Local Economic Conditions
The DRC’s economy is growing. Its GDP went from 1.7% in 2020 to 8.6% in 2022. It’s expected to grow by 7.5% in 2025.
The mining industry in the DRC is also growing. But, the country depends a lot on exporting certain products. This makes its economy sensitive to world market changes.
“The price of gold in Congo is influenced by a complex interplay of supply and demand dynamics, global market trends, and local economic conditions.”
Gold Weight Measurements and Pricing
Understanding gold prices in Congo starts with knowing the weight units. The tael is 37.49835 grams. Today, 24-karat gold per tael costs 9,148,460.07 Congolese franc (CDF).
Gold in Congo is also sold by the gram. Here are the current prices for 24-karat gold:
- 1 gram: 53,236.73 CDF
- 2 grams: 106,473.46 CDF
- 5 grams: 266,183.65 CDF
- 10 grams: 532,367.30 CDF
- Up to 500 grams: 26,618,365.25 CDF
For bigger amounts, 24-karat gold costs 1,655,662.32 CDF per ounce. Per kilogram, it’s 53,236,730.50 CDF.
| Gold Purity | Price per Tael (37.49835 grams) | Price per Gram | Price per Ounce | Price per Kilogram |
|---|---|---|---|---|
| 24-Karat | 9,148,460.07 CDF | 53,236.73 CDF | 1,655,662.32 CDF | 53,236,730.50 CDF |
| 23-Karat | 8,767,274.24 CDF | 51,103.70 CDF | 1,586,556.03 CDF | 51,103,699.11 CDF |
| 18-Karat | 6,861,345.06 CDF | 40,027.78 CDF | 1,242,496.89 CDF | 40,027,761.32 CDF |
| 10-Karat | 3,811,858.36 CDF | 22,236.54 CDF | 690,265.05 CDF | 22,236,536.29 CDF |
These gold prices in Congo change often. They are updated to give you the latest info.
Currency Exchange Rates and Gold Values
The value of gold in the Democratic Republic of Congo (DRC) changes with currency rates. The US dollar to Congolese franc rate is 625.41. The euro to Congolese franc rate is 656.39. These rates change how much gold is worth in US dollars and euros.
USD/XAF Conversion Impact
People in the gold trade in the DRC watch the USD/XAF rate closely. The US dollar is key for gold deals worldwide. Knowing the USD/XAF rate helps ensure prices are fair and clear.
EUR/XAF Market Relations
The euro and Congolese franc rates matter for the DRC’s gold market. The EUR/XAF rate affects gold prices, especially for European buyers. Watching the EUR/XAF rate helps understand the local gold market and its global ties.
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