If you live in Mozambique, you might wonder about gold prices. The gold market in Mozambique changes every day. On November 28, 2024, at 10:16:01 am (Maputo time), gold costs 5,419.00 Mozambican Meticals (MZN) per gram. This is a 0.08% increase from yesterday.
The gold market in Mozambique is quite active. Today, gold prices went as high as 5,423.25 MZN and as low as 5,384.26 MZN. This shows the market’s busy state. Also, the exchange rate matters a lot, with 1 USD being worth 63.95 MZN.
Key Takeaways
- The current price of gold per gram in Mozambique is 5,419.00 MZN.
- The price change today is +0.08% (+4.50 MZN).
- The market volatility status is considered medium, with a high of 5,423.25 MZN and a low of 5,384.26 MZN.
- The exchange rate impact is significant, with 1 USD equaling 63.95 MZN.
- The gold price is updated daily, with the latest update on November 28, 2024.
Current Gold Market Overview in Mozambique
The gold market in Mozambique is a bit shaky. Right now, 14K gold costs 5,386.30 Mozambican Meticals (MZN) per gram. The bid price is 5,385.67 MZN/gm, and the ask price is 5,386.93 MZN/gm. The open price was 5,370.24 MZN/gm.
Latest Gold Price Updates
In the last 24 hours, gold prices in Mozambique went up by +4.51 MZN (+0.1%). This shows the market is always changing. It can be affected by things like the world economy and currency rates.
Market Volatility and Daily Fluctuations
The gold market in Mozambique is a bit bumpy. Prices change every day. This is because the gold market is always moving.
Exchange Rate Impact on Gold Prices
The value of the Mozambican Metical (MZN) against the US Dollar (USD) affects gold prices. Right now, 1 USD is about 63.90 MZN. This shows how important it is to watch currency rates when looking at gold prices in Mozambique.
The gold industry in Mozambique is getting more attention. People from Mozambique and other countries are interested. Places like Niassa, Tete, and Manica Provinces have a lot of gold. Recent deals, like Xtract Resources’ new concession, show the industry is growing.
| Gold Weight | Price in Mozambican Meticals (MZN) |
|---|---|
| Ounce | 98,330.13 MZN |
| Gram | 3,161.31 MZN |
| Kilo | 3,161,382.46 MZN |
| Tola | 36,873.80 MZN |
| Baht | 46,505.23 MZN |
| Grain | 204.85 MZN |
| Ratti | 575.37 MZN |
The gold industry in Mozambique is expected to grow by 1.1% each year from 2016 to 2020. This shows the industry’s potential and the chances it offers for investors and traders.
Understanding Gold Rates Per Gram in Mozambican Meticals
In Mozambique, gold prices are in the local money, the Mozambican Metical (MZN). If you’re buying or selling gold in Maputo, knowing the gold rates per gram in MZN is key. This helps you make smart choices.
The price of 24K gold in Mozambique is 5,410.4 MZN per gram as of November 27, 2024. This is the highest price in the last year. The lowest was 4,058.2 MZN per gram on December 11, 2023. On average, gold prices have swung between 4,058.2 MZN and 5,717.8 MZN per gram.
| Gold Purity | Price per Gram (MZN) |
|---|---|
| 24K | 5,410.4 |
| 22K | 4,946.65 |
| 21K | 4,725.24 |
| 18K | 4,050.21 |
1 gram of gold is about 0.03215 troy ounces. So, 100 Mozambican Meticals (MZN) is roughly 0.00059507058 gold ounces (XAU).
For Mozambican gold investors or bullion dealers, keeping up with gold prices Maputo and Mozambique bullion dealers is vital. This way, you can make good choices and take advantage of market changes.
Price of Gold in Mozambique Across Major Cities
In Mozambique, gold prices are pretty much the same in big cities. Maputo, Matola, Beira, and others all have the same price. The price is 5,402,874.90 MZN per kilogram.
Maputo Gold Market Rates
Maputo is the center of Mozambique’s economy. Here, gold costs 5,402,874.90 MZN per kilogram. This shows the city’s lively gold market and high demand.
Regional Price Variations
Gold prices are mostly the same in big cities. But, small changes can happen. These changes are because of things like how goods move and where gold is sold.
Urban vs Rural Gold Prices
Gold is cheaper in cities than in the countryside. Cities have more gold trading and easier access to the world market. People in rural areas might pay a bit more because of travel and info issues.
Gold Purity Standards and Pricing
In Mozambique, gold purity is measured in karats. This shows how much pure gold is in an alloy. The highest purity is 24K gold, which is almost 100% pure. It costs 5,418.95 Mozambican meticals (MZN) per gram.
Other common purities are 22K, 18K, and 14K. Each has its own price per gram. For example, 22K gold costs 4,967.37 MZN/g, and 18K costs 4,064.21 MZN/g.
The price of gold depends on its purity. Higher karat gold is more expensive. But, 24K gold is too soft for jewelry. So, 18K and 14K gold are more popular in Mozambique.
| Gold Purity | Price per Gram (MZN) |
|---|---|
| 24K (99.999% pure) | 5,418.95 |
| 22K | 4,967.37 |
| 18K | 4,064.21 |
| 14K | 3,161.05 |
Knowing about gold purity and pricing is key for Mozambique precious metals investors. It helps when you want to gold investment Mozambique. By understanding market rates, you can make smart choices when buying or selling gold.
“Mozambique’s gold buying market is made up of around 250 licensed traders.”
Historical Gold Price Trends in Mozambique
The historical gold price data in Mozambique shows ups and downs in gold prices. On November 28, 2024, gold prices were 5,421.00 Mozambican Metical (MZN) per gram for 24-carat gold. Prices for 22-carat and 18-carat gold were 4,969.25 MZN and 4,065.75 MZN per gram, respectively. These changes show how the Mozambican gold market is always moving.
Monthly Price Analysis
Looking at monthly trends, gold prices in Mozambique have gone up lately. In November 2024, the price per ounce ranged from 163,567 to 175,227 MZN. The price for 24-carat gold per gram changed between 5,259 and 5,634 MZN.
Annual Market Performance
The Mozambican gold market has seen big growth each year. Gold prices have risen by 31.14% yearly. This increase is due to many factors, like the world economy, currency changes, and local demand for gold.
Price Prediction Factors
Looking ahead, several things will shape the Mozambican gold market. The Mozambique Producer Price Index (PPI), government finances, trade, and foreign investment will all play a part. By watching these economic signs, investors and buyers can guess where gold prices might go.
| Gold Purity | Price per Gram (MZN) |
|---|---|
| 24 Carat | 5,421.00 |
| 22 Carat | 4,969.25 |
| 21 Carat | 4,743.37 |
| 18 Carat | 4,065.75 |
“The Mozambican gold market has shown great strength, with gold prices rising steadily over the last year. As Mozambique’s economy grows, gold demand is expected to stay high, leading to even higher prices.”
Buying and Selling Gold in Mozambique
When you want to buy gold in Mozambique or sell gold in Mozambique, knowing the market rates is key. The price of gold in Mozambique is 5,400.28 Mozambican Meticals (MZN) per gram for 24-karat gold. A 10-gram gold bar costs about 54,002.76 MZN. A 20-gram bar is 108,005.51 MZN, and a 50-gram bar is 270,013.79 MZN.
Before you buy or sell gold, check its purity and weight. This ensures you get the best deal. Gold prices can differ between dealers. So, it’s smart to compare prices from several places to find the best deal.
“Buyers are actively seeking to purchase large quantities of Gold Bars, ranging from Raw Gold Bars to Gold Bullion Bars, in Mozambique.”
The demand for gold in Mozambique is high. Many buyers want to buy gold in various amounts. Refineries often buy several tons of gold each month. They especially want buying Hallmark Gold Bars.
Buyers also like to do face-to-face transactions for gold and other precious metals in Mozambique.
Whether you’re buying gold in Mozambique or selling gold in Mozambique, knowing the latest trends and rules is crucial. This helps make your transaction smooth and successful.
Gold Investment Options for Mozambican Investors
As a Mozambican investor, you can choose between physical gold and digital gold trading. Each option has its own benefits. Your choice depends on your goals, how much risk you can take, and what you like best.
Physical Gold Investment
Many Mozambican investors like physical gold. This includes jewelry, coins, or bars. Here are the current prices for gold in Mozambique:
- 1 gram of gold: 5,400.28 Mozambican Meticals (MZN)
- 10 grams of gold: 54,002.76 MZN
- 100 grams of gold: 540,027.57 MZN
Physical gold is real and might grow in value over time. But, you must keep it safe. It might also be harder to sell quickly than digital gold.
Digital Gold Trading
Digital gold trading is great for those who want easy access and quick trades. You can invest in gold without owning the metal. This lets you easily buy, sell, and trade digital gold tokens.
Digital gold trading is easy to use and fast. It’s a good choice for gold investment Mozambique. But, you need to know about the risks, like who you’re dealing with and market ups and downs.
It’s key to know about Mozambique bullion dealers and market trends. Both physical and digital gold prices change daily. The gold market is currently quite volatile.
“Gold is a hedge against economic uncertainty, and as an investor, it’s crucial to diversify your portfolio to mitigate risks.”
Understanding Weight Units and Conversions
When you trade Mozambique precious metals, like gold, knowing weight units is key. In Mozambique, you’ll see grams, kilograms, and ounces. Knowing these helps with accurate prices and gold trading Mozambique success.
Here’s a quick guide to help you in the Mozambican gold market:
- 1 gram = 0.03215 troy ounce
- 1 kilogram = 1,000 grams
Gold prices in Mozambique are based on these units:
| Unit | Price (MZN) |
|---|---|
| 1 gram | 5,418.95 |
| 1 kilogram | 5,419,067.67 |
| 1 ounce | 168,552.09 |
Knowing these conversions is vital for trading gold in Mozambique. It helps you make smart choices and have smooth gold trading Mozambique experiences.
Gold Trading Regulations in Mozambique
Gold trading in Mozambique has rules to keep things fair and stop illegal acts. If you trade gold or invest, knowing the laws and paperwork is key.
Legal Requirements
Mozambique has strict rules for gold trade. Mining companies need to show their owners are not involved in wrongdoings. Not following these rules can lead to big fines, up to 230,000 USD.
Documentation Process
Gold trading needs lots of paperwork. Getting mining licenses can cost between 15 USD and 100,000 USD. The Kimberley Process might also charge for services like checking precious items.
It’s smart to deal with gold through licensed dealers in Mozambique. This makes following the rules easier and avoids big fines.