If you’re into gold in Sierra Leone, knowing the latest prices is key. We’ll cover the current gold prices in Sierra Leone. You’ll get updates, insights, and tips for your gold plans.
The gold price per gram in Sierra Leone is 1,787,213.03 Sierra Leonean Leones (SLL). Prices change every day. We’ll keep you updated on these changes, including different weights and karats.
Key Takeaways
- The current gold price per gram in Sierra Leone is 1,787,213.03 SLL.
- Today’s gold price change stands at +0.10 (+0%), indicating a stable market.
- The current market volatility status is classified as “Very High”.
- Prices vary across different weight units, with the ounce price at 55,589,829.96 SLL and the kilogram price at 1,787,251,946.13 SLL.
- Karat-specific price changes range from +0.023 SLL for 6-karat to +0.092 SLL for 24-karat gold.
Current Gold Rates in Sierra Leone
As of November 30th, 2024, gold in Sierra Leone costs 1,787,213.03 Sierra Leonean Leones (SLL) per gram. This shows the latest market changes. Knowing today’s gold prices in Sierra Leone is key for smart choices.
Latest Price Updates and Market Status
Today, gold prices in Sierra Leone went up a bit. The highest price was 1,797,713.22 SLL, and the lowest was 1,775,708.33 SLL. The market is very active, with prices changing a lot. This info is updated fast, so you always know the latest about Sierra Leone’s gold market.
Today’s High and Low Prices
Today, Sierra Leone’s gold market saw big price changes. The highest price was 1,797,713.22 SLL, and the lowest was 1,775,708.33 SLL. These changes show how fast the market can move. It’s important to keep up with these changes to do well in the Sierra Leone gold prices, buying gold Sierra Leone, or selling gold Sierra Leone markets.
Market Volatility Overview
The gold market in Sierra Leone is very unstable, with a Very High volatility rating. Prices are changing a lot, offering both chances and challenges. It’s vital to stay current with market trends and prices to succeed in the Sierra Leone gold prices, buying gold Sierra Leone, or selling gold Sierra Leone markets.
| Gold Weight | Price (SLL) |
|---|---|
| 1 Ounce | 55,589,829.96 |
| 1 Kilo | 1,787,251,946.13 |
| 1 Tola | 20,846,186.24 |
The table shows the current gold prices in Sierra Leone for different weights. This info is useful for those in the Sierra Leone gold prices, buying gold Sierra Leone, or selling gold Sierra Leone markets.
“Stay informed and make the most of the dynamic gold market in Sierra Leone.”
Understanding Gold Purity and Pricing
Gold investment in Sierra Leone needs you to know about gold purity and its price. Gold purity is shown in karats. The more karats, the purer the gold. Pure gold is 24 karats, which is 99.999% pure.
The price of gold in Sierra Leone changes with the karat value. Higher karat gold costs more.
Different Karat Values and Their Prices
Gold prices in Sierra Leone are in Sierra Leonean Leones (SLL) per gram. Here’s how prices change with karat value:
- 24K gold: 1,787,213.03 SLL per gram
- 22K gold: 1,638,278.61 SLL per gram
- 18K gold: 1,340,409.77 SLL per gram
- 14K gold: 1,042,540.94 SLL per gram
- 10K gold: 744,672.10 SLL per gram
Price Variations by Gold Quality
Prices in Sierra Leone’s gold market change with gold purity. The most expensive is 24-karat gold, the purest form.
As karat value goes down, price per gram also goes down. The least expensive is 10-karat gold.
Popular Gold Purity Choices in Sierra Leone
In Sierra Leone, 22-karat and 24-karat gold are the most wanted. These are sought after for their value and quality.
Knowing about gold purity and its price is key for those into gold investment Sierra Leone or the Sierra Leone gold industry. By understanding karat values and prices, you can make smart choices when buying gold in Sierra Leone.
Price of Gold in Sierra Leone: Weight Unit Comparisons
Understanding gold prices in Sierra Leone involves different weight units. The local currency, Sierra Leonean Leones (SLL), is used for gold pricing. Let’s look at conversion rates for various gold weights:
- 1 Gram of gold = 1,787,213.03 SLL
- 5 Grams of gold = 8,936,065.17 SLL
- 10 Grams of gold = 17,872,130.33 SLL
- 100 Grams of gold = 178,721,303.33 SLL
- 1000 Grams of gold = 1,787,213,033.25 SLL
1 Troy Ounce is about 31.1034768 grams. This is key for gold pricing in Sierra Leone. The local market uses both units.
The current currency exchange rate affects gold prices. Today, 1 US Dollar (USD) equals 20,969.5 Sierra Leonean Leones (SLL). This rate changes the cost of gold for buyers.
| Gold Weight | Price in Sierra Leonean Leones (SLL) | Price in US Dollars (USD) |
|---|---|---|
| 1 Gram | 1,787,213.03 SLL | $85.25 |
| 5 Grams | 8,936,065.17 SLL | $426.26 |
| 10 Grams | 17,872,130.33 SLL | $852.52 |
| 100 Grams | 178,721,303.33 SLL | $8,525.23 |
| 1000 Grams | 1,787,213,033.25 SLL | $85,252.33 |
Knowing these gold prices in Sierra Leone helps gold traders and investors. They can make better choices when trading gold or investing in Sierra Leone’s gold exports.
Gold Market Trends and Historical Data
The Sierra Leone gold market has seen ups and downs. Prices change due to many economic factors. Looking at monthly prices, year-to-date trends, and price changes helps us understand the gold price in Sierra Leone.
Monthly Price Movements
In the last year, the gold price in Sierra Leone has followed a pattern. In November 2024, it hit a high of 54,987,305.48 SLL per ounce. Then, it fell to 50,594,551.74 SLL a few days later. This shows the market’s quick changes.
Year-to-Date Performance
Looking at the year, the Sierra Leone gold market shows trends. Prices have swung between highs and lows. The 52-week change shows a -4.49% drop. This highlights the market’s fast changes due to many factors.
Price Fluctuation Analysis
The Sierra Leone gold market prices change due to supply and demand. Economic conditions and global trends also affect prices. Watching these changes helps investors and buyers make smart choices.
| Date | Gold Price (SLL per ounce) |
|---|---|
| 26 Nov 24 | 51,840,573.43 |
| 25 Nov 24 | 52,813,831.14 |
| 24 Nov 24 | 53,565,955.21 |
Currency Exchange Impact on Gold Prices
The gold industry in Sierra Leone is very affected by currency exchange rates. The official exchange rate is 1 USD = 19,751.00 SLL. Gold prices are changed from US dollars to local currency using this rate. Changes in the exchange market can greatly change gold prices.
A study looked at Sierra Leone’s foreign exchange markets from 2011 to 2021. It found that exchange rate changes cause inflation and weaken the currency. The study used official exchange rates against the US dollar, Euro, and British Pound.
The study showed that the connection between Sierra Leone’s forex markets changes over time. It gets stronger when the Leone falls in value, which happens with falling commodity prices and economic crises. This shows the need for the central bank to build up foreign exchange reserves.
Sierra Leone’s exchange rate is based on transactions from banks and forex bureaux over five business days. The central bank holds a weekly auction on Wednesdays. Since 1990, the country has used a fully flexible, market-determined exchange rate system.
Research is ongoing about how exchange rate changes affect Sierra Leone’s economy. Studies look at the relationship between exchange rates and growth from 1980 to 2018. They use data from different sources to understand how foreign exchange affects the economy.
In summary, the currency exchange rate is very important for gold prices in Sierra Leone. Research and analysis of the forex market’s impact on the local economy help understand the gold trade better.
Gold Trading in Major Sierra Leone Cities
Gold trading in Sierra Leone changes a lot in different places. Knowing these changes is key for those who trade or invest in gold. This helps them get the best deals.
Regional Price Variations
Gold prices change in Sierra Leone based on where you are. For example, Freetown’s prices might be different from Bo or Kenema’s. These changes come from things like how much it costs to get the gold there, how much people want it, and the local economy.
Local Market Dynamics
Every city in Sierra Leone has its own gold market. This market is shaped by who sells and buys gold there. Some places have more gold sellers, which can affect prices and how the market works.
| City | FOB Price Range (per kg) | Minimum Order Quantity | Supplying Ability | Payment Terms |
|---|---|---|---|---|
| Freetown | $25,000 – $48,000 | 1 – 50 kg | 100 kg/day – 20 kg/week | T/T, Western Union, Money Gram, PayPal, L/C, D/A, D/P |
| Bo | $27,500 – $45,000 | 2 – 25 kg | 75 kg/day – 15 kg/week | T/T, Western Union, Money Gram, PayPal |
| Kenema | $30,000 – $43,000 | 3 – 30 kg | 80 kg/day – 18 kg/week | T/T, Western Union, Money Gram |
Knowing about these differences helps traders and investors. They can make better choices when trading gold in Sierra Leone. This way, they can get the best prices and deals.
Investment Opportunities in Sierra Leone’s Gold Market
Sierra Leone’s gold market is full of chances for investors. You can find 24K gold or other types like 22K, 18K, and 14K. There are many options to choose from.
You can buy gold in bars, coins, or jewelry. This meets different tastes. Sierra Leone is also a key spot for trade in West Africa. It gives access to over 425 million people in the ECOWAS market.
Sierra Leone is not just about gold. It’s also growing in agribusiness, renewable energy, and tourism. The country has a young, active population. It’s also working on being more open and stable for investors.
The GO-FOR-GOLD Program is a big deal for investors. It offers permanent residency for those who invest in Sierra Leonean gold. This shows the government wants more foreign money in its gold industry.
Sierra Leone is getting stronger economically. It’s tackling issues like corruption. This makes it a great place for gold investment in Sierra Leone and Sierra Leone gold exports. It’s a good choice for investors looking to grow their money.
“Sierra Leone’s gold market offers a wealth of investment opportunities for those seeking to capitalize on the country’s mineral wealth.”
Factors Affecting Gold Prices in Sierra Leone
The price of gold in Sierra Leone’s gold market changes a lot. This is because of many things like global trends, local economy, and how much gold is available. Knowing these things helps us understand the Sierra Leone gold market better.
International Market Influence
Things like the world economy, money changes, and big events can change gold prices in Sierra Leone. For example, what big banks do, trade issues, and political problems can make gold prices go up and down.
Local Economic Factors
Things happening in Sierra Leone also affect gold prices. For example, big projects like the $1.5 billion Lungi Bridge project and help from the IMF’s $253 million Extended Credit Facility program can change the economy. This can then change the price of gold in Sierra Leone.
Supply and Demand Dynamics
The balance between how much gold is made and how much people want it is very important. Things like jewelry demand, what banks do with gold, and how much gold is mined can all affect the Sierra Leone gold market.
| Key Factors | Impact on Gold Prices |
|---|---|
| Inflation Volatility | The central bank’s decision to raise the key rate by 350 basis points, reaching 24.75% between September 2023 and September 2024, has contributed to higher gold prices. |
| Geopolitical Tensions | Ongoing global conflicts and uncertainties have fueled the demand for gold as a safe-haven asset, driving up prices in Sierra Leone. |
| Central Bank Actions | Expectations of monetary easing by major central banks, such as the anticipated rate cuts, have increased the attractiveness of gold as an investment, contributing to price increases. |
By understanding these many factors, people in Sierra Leone can make better choices about gold. This helps them make smart decisions in the gold market.
“The ongoing gold price rally is attributed to various factors, including expectations of monetary easing by major central banks and geopolitical tensions.”
Conclusion
Sierra Leone’s gold market is full of chances for investors and traders. Knowing about gold prices, trends, and what affects them is key. This knowledge helps you make smart choices in Sierra Leone’s lively gold market.
The gold industry in Sierra Leone is big, especially for small miners. The government wants to make this sector better. They have a plan to help gold mining be more responsible and help the country grow.
When you’re in the gold market in Sierra Leone, keep up with new prices and trends. This will help you find good chances in this field. Use what you learned here to make smart moves and grab the many opportunities in Sierra Leone’s gold market.