As of November 30, 2024, gold costs 52,842.56 West African CFA francs (XOF) per gram in Senegal. The gold market in Senegal has seen a small rise of 0.03% today. This is a +13.50 XOF increase.
The last update was at 07:50:02 am Dakar time. The highest price today was 53,153.02 XOF. The lowest was 52,502.40 XOF. This shows a big swing in prices, with a 650.60 XOF change.
Key Takeaways
- Current gold price per gram in Senegal is 52,842.56 XOF.
- Today’s gold price change is +0.03% (+13.50 XOF).
- Market volatility status is Very high.
- Today’s high price is 53,153.02 XOF, and the low is 52,502.40 XOF.
- The Senegalese gold market is experiencing significant price fluctuations.
Understanding Gold Rates in Senegal’s Market
The Senegalese gold market is always changing. Gold prices update often to match global and local trends. Knowing what affects gold prices in Senegal is key for investors and buyers.
Current Market Overview
The Senegalese gold market is interesting. Gold mining in Senegal is growing. Today, 24-karat gold costs 51,215.92 XOF per gram to buy and 56,856.06 XOF per gram to sell.
Factors Affecting Local Gold Prices
Many things change gold prices in Senegal. These include:
- Changes in the global gold market
- How the West African CFA Franc (XOF) compares to the US Dollar (USD)
- How much gold people want to buy or sell
- How much gold is available in Senegal
Market Updates and Trading Hours
The gold market in Senegal follows Dakar time. Prices update all day. Keeping up with market news helps investors and traders.
| Gold Type | Price per Gram (XOF) |
|---|---|
| 24K Gold | 52,951.69 |
| 22K Gold | 48,539.05 |
| 21K Gold | 46,332.73 |
| 18K Gold | 39,713.77 |
Understanding the Senegalese gold market helps investors and buyers. It lets them make smart choices and find good deals.
Price of Gold in Senegal: Live Market Analysis
The Senegalese gold market gives us real-time info on gold prices. Right now, 24K gold costs 52,859.86 XOF per gram. This is a small drop of 7.78 XOF.
The price for one ounce of gold is 1,643,625.59 XOF. This is a tiny rise of 0.03% from yesterday.
Senegal has some of the purest gold in the area. 24K gold is 99.999% pure. This means buyers get the best gold in the local market.
Here’s a table showing gold prices for different purities:
| Gold Purity | Price per Ounce (XOF) |
|---|---|
| 24-Karat | 1,643,625.59 |
| 23-Karat | 1,575,141.19 |
| 22-Karat | 1,506,656.79 |
| 21-Karat | 1,438,172.39 |
| 18-Karat | 1,232,719.19 |
| 14-Karat | 958,781.59 |
| 10-Karat | 684,843.99 |
| 9-Karat | 616,359.59 |
| 8-Karat | 547,875.20 |
| 6-Karat | 410,906.40 |
These prices are for raw gold. Extra fees might apply based on where you buy or sell. The Senegalese gold market is clear and follows global standards. This helps investors and buyers make smart choices.
To keep up with Senegal’s gold prices, check reliable sources and apps. The Kitco Gold Live! app is a top choice. It covers the Senegalese and global gold markets well.
Gold Purity Standards and Pricing Variations
In Senegal, gold purity ranges from 24-karat (24K) to 6-karat (6K). Knowing these levels and their prices is key for gold buyers and sellers.
24K Gold Rates and Specifications
24K gold is 99.999% pure and very expensive in Senegal. It costs 52,842.56 XOF per gram. This makes it the most valuable choice for gold lovers and investors.
Common Karat Options Available
- 22K gold: 48,439.02 XOF/g
- 18K gold: 39,631.92 XOF/g
- 14K gold: 30,824.83 XOF/g
Price Differences by Purity Level
The price of gold changes a lot based on its purity in Senegal. The price goes down as purity goes down. For example, 24K gold costs 52,842.56 XOF/g, but 6K gold is only 13,210.64 XOF/g. This shows how important purity is for gold’s value.
| Gold Purity | Price per Gram (XOF) |
|---|---|
| 24K (99.999% pure) | 52,842.56 |
| 22K | 48,439.02 |
| 18K | 39,631.92 |
| 14K | 30,824.83 |
| 6K | 13,210.64 |
“Understanding the nuances of gold purity and its impact on pricing is essential for making informed decisions in the Senegalese gold market.”
Daily Gold Rate Fluctuations and Trends
The gold market in Senegal changes a lot every day. Prices go up and down, showing how fast things can change. Lately, gold prices in Senegal have seen both rises and falls.
For example, one day, the price dropped by 3.3%. It fell by 1,798.84 XOF per ounce. Then, prices moved a bit more, going from -363.21 XOF to +714.71 XOF. This shows how prices can change a lot in Senegal.
These changes show how sensitive the market is. Things like the world economy, how much gold there is, and money exchange rates affect prices. Knowing about these changes is key for those who want to invest in gold.
| Date | Gold Price (XOF/ounce) | Price Change (XOF) | Percentage Change (%) |
|---|---|---|---|
| 2023-11-29 | 54,000.00 | -1,798.84 | -3.3% |
| 2023-11-30 | 53,636.79 | -363.21 | -0.7% |
| 2023-12-01 | 54,351.50 | 714.71 | 1.3% |
The table shows how gold prices in Senegal change every day. It helps us see how the market is always moving. By watching these changes, people and businesses can make smart choices about gold.
The image above shows the recent changes in gold prices in Senegal. It helps us see the market’s ups and downs. This kind of picture can help people and businesses understand the trends better.
Gold Weight Units and Their Market Values
In Senegal, gold prices are in different weight units. Each unit has its own value. It’s important for buyers and investors to know these units.
Gram to XOF Conversion Rates
For 24-karat gold, the price per gram is 52,859.86 West African CFA Francs (XOF). This is about $85.20 USD. This price is based on the [https://www.lloydsbanktrade.com/en/market-potential/senegal/trade-profile] XOF to USD exchange rate.
Tola and Ounce Pricing Structure
The gold market in Senegal also uses tolas and ounces. One tola of 24K gold costs 616,546.82 XOF. An ounce is 1,643,941.61 XOF. These sizes are for both small buyers and big ones.
Kilogram Gold Rates for Bulk Buyers
Bulk buyers can look at kilogram prices. The price for 1 kilogram of 24-karat gold is about 52,859,858.88 XOF. Prices can vary a bit based on the market.
| Gold Unit | 24K Gold Price (XOF) | 24K Gold Price (USD) |
|---|---|---|
| 1 Gram | 52,859.86 | 85.20 |
| 1 Ounce | 1,643,941.61 | 2,646.72 |
| 1 Tola | 616,546.82 | 993.06 |
| 1 Kilogram | 52,859,858.88 | 85,200.00 |
Senegalese Gold Market Performance Metrics
The Senegalese gold market is watched closely. It has a “Very High” market volatility status. The daily price can change by 650.60 XOF (West African CFA franc).
This high change shows the market’s lively nature. It’s affected by global trends, local demand, and currency rates.
The spread between bid and ask prices is key. It shows the market’s current state. Traders and investors use this to make smart choices.
Senegal’s gold production has grown by 13% to 14,134 kilograms in 2019. Big mines like Sabodala Gold Operations produced 7,505 kg that year. The Massawa gold project will add even more, with over 200,000 troy ounces yearly.
| Metric | Value |
|---|---|
| Market Volatility Status | Very High |
| Daily Price Fluctuation | 650.60 XOF |
| Spread Between Bid and Ask Prices | Adjustable based on profit margins and labor costs |
| Gold Production in 2019 | 14,134 kg |
| Sabodala Gold Operations Production in 2019 | 7,505 kg |
| Massawa Gold Project Expected Annual Production | Over 200,000 troy ounces |
These metrics help investors and traders understand the Senegalese gold market. They can make smart choices and take advantage of the market’s growth.
Currency Exchange Impact on Gold Prices
The currency exchange rates greatly affect gold prices in Senegal. The US Dollar to West African CFA Franc (XOF) exchange rate is 620.25. It has a bid of 607.85 and an ask of 632.66.
Other big currencies like the Euro and British Pound also matter. The EUR/XOF rate is 656.14, and the GBP/XOF rate is 789.93. These changes in major currencies affect the gold prices in Senegal, leading to changes in the XOF gold rates.
USD to XOF Relationship
The US Dollar and West African CFA Franc relationship is key for gold prices Senegal. When the US Dollar gets stronger or weaker against the XOF, it changes the local gold market. This makes gold prices go up or down.
International Currency Influences
Other international currency changes also affect gold prices in Senegal. Changes in the Euro, British Pound, and other big currencies can influence the local XOF gold market. This is because these currencies are used in global gold trading and reserves.
“Global central banks added US$20 billion of gold to their international reserve portfolios in the third quarter of 2022, the largest quarterly increase in official gold demand in 55 years according to the World Gold Council (2022).”
| Currency Pair | Exchange Rate |
|---|---|
| USD/XOF | 620.25 |
| EUR/XOF | 656.14 |
| GBP/XOF | 789.93 |
Gold Investment Opportunities in Senegal
The Senegalese gold market has many exciting investment chances. You can buy gold bullion Senegal or try market guessing. The Senegalese gold market has many options for your goals.
Right now, 24K gold in Senegal costs 52,859.86 XOF per gram. This pure gold is loved by those building a strong gold collection. The market also offers ounces and kilograms for bigger investments, helping gold investment Senegal fans.
The Senegalese gold market is very changeable. It has risks and chances for smart investors. Keep an eye on trends and news to use price changes well in your gold investment Senegal plan.
“The Senegalese gold market is a dynamic and rapidly evolving landscape, offering a wealth of investment possibilities for those willing to navigate its intricacies.”
To do well in gold investment Senegal, know the latest news and trends. Stay informed and flexible to move through the Senegalese gold market with ease. This way, you can reach the full potential of your gold investment.
Historical Gold Price Analysis
Looking into the gold price history in Senegal gives us important info. The gold market in Senegal has seen ups and downs over time. By studying the yearly trends, we can understand the market better and spot any patterns.
Monthly Price Trends
The gold price in Senegal changes a lot each month. Prices go up and down because of the economy and world events. Watching these changes helps investors make smart choices and guess what the market will do next.
Annual Performance Review
Looking at the gold market’s yearly performance gives us a big picture. It shows us when the market grows or shrinks. This helps us plan our investments and manage risks better.
Market Pattern Recognition
Gold price history in Senegal helps us see patterns. The market is very volatile, with prices changing fast. Knowing these patterns helps us predict the market and make better choices.