If you live in Venezuela or are interested in its gold market, you can keep up with the latest prices. The current gold price in Venezuela is Bs 126,457 per ounce as of December 3, 2024. This is an increase from Bs 72,022 last year (December 4, 2023).
The latest spot price for gold in Venezuela is Bs 126,457 per ounce. The highest price in the last 7 years was Bs 7,505,980,435 per ounce on August 27, 2021. Gold prices in Venezuela are available for different purities. This includes 24K, 22K, 21K, 18K, and 14K. This meets the needs of both investors and jewelry lovers.
Key Takeaways:
- The current gold price in Venezuela is Bs 126,457 per ounce, up from Bs 72,022 a year ago.
- Gold prices in Venezuela change based on global and local market conditions.
- Venezuelans can find real-time gold prices in various units and purities.
- The Venezuelan bolívar exchange rate affects the cost of gold for local buyers and sellers.
- Knowing what affects the Venezuelan gold market is key for smart investment choices.
Current Gold Market Overview in Venezuela
In Venezuela, gold is very important because of the country’s tough economy. High inflation and economic problems make it key for investors to know about the gold market.
Latest Gold Spot Prices and Trends
The gold spot price in Venezuela is now Bs 126,457 per ounce. This is much higher than last year’s price of Bs 211 million per ounce. The price rise shows the country’s economic struggles and the need for gold as a safe asset.
Market Factors Influencing Venezuelan Gold Rates
Many things affect gold prices in Venezuela. The big drop in Venezuela’s GDP and high inflation hurt the local money. Also, many Venezuelans leaving the country push gold prices up.
Daily Price Fluctuations and Trading Volumes
Gold prices in Venezuela change a lot every day. The highest price in 7 years was Bs 7,505,980,435 per ounce on August 27, 2021. How much gold is traded changes with market mood and activity.
The gold market in Venezuela is very important. It affects both locals and investors worldwide. As Venezuela’s economy and politics change, gold will keep playing a big role.
Price of Gold in Venezuela: Live Trading Data
If you invest in gold in Venezuela, you can get live prices. This is great for those interested in Venezuela gold investment, gold bullion Venezuela, or gold commodities Venezuela. The current data helps you understand the changing Venezuelan gold market.
On December 4, 2024, at 12:31 UTC, here are the prices per gram for different gold purities:
- 24K gold: VEF 368.30
- 22K gold: VEF 337.36
- 21K gold: VEF 322.26
- 18K gold: VEF 276.22
- 14K gold: VEF 215.45
The spot gold price per ounce was VEF 11,454.20. The USD/VEF exchange rate was 4.3320. These prices update in real-time. This helps you make smart gold investment choices in Venezuela.
| Gold Purity | Price per Gram (VEF) |
|---|---|
| 24K | 368.30 |
| 22K | 337.36 |
| 21K | 322.26 |
| 18K | 276.22 |
| 14K | 215.45 |
Keep up with the gold prices in Venezuela. This live data is key for managing your gold commodities Venezuela portfolio.
Understanding Gold Measurements and Pricing Methods
In Venezuela, gold prices are given in grams, ounces, kilograms, and tolas. For instance, 1 kilogram of 24-karat gold is priced at 368,302.18 VEF. Also, 1 tola of 24-karat gold costs 4,295.80 VEF. The gold’s purity level greatly affects its price, with 24-karat being the priciest.
Gold Prices Per Gram, Ounce, and Kilogram
Gold in Venezuela is traded in grams and ounces, with kilograms for bigger deals. Prices are set by market standards, making it easier to compare and trade. To find the price of gold in VEF, you need to know the spot price of gold in USD and the exchange rate to VES.
| Gold Unit | Price (VEF) |
|---|---|
| 1 gram | 4,295.80 |
| 1 ounce | 133,929.38 |
| 1 kilogram | 368,302.18 |
Gold prices in Venezuela can change due to global economic and political events. This includes the country’s own economic and political stability.
Venezuelan Gold Market Analysis
The Venezuelan gold market is complex. It’s affected by global and local factors. The country’s economic troubles and currency changes impact gold prices a lot.
This makes the difference between buying and selling prices big. It shows the market’s liquidity and costs. Labor and extra fees also play a part in the gold price.
The Venezuelan gold market is very sensitive. It’s affected by world events and gold price changes. The Orinoco Mining Arc (OMA) is a big area for illegal gold mining.
Gold prices have gone up by about 40% in five years. This shows how volatile and challenging the Venezuela gold trading scene is.
| Key Market Factors | Impact on Gold Prices |
|---|---|
| Economic Instability | Significant influence, leading to currency fluctuations and widening bid-ask spreads |
| Geopolitical Events | Trigger market sensitivity and price volatility |
| International Gold Prices | Directly affect gold economia Venezuela, as the domestic market is closely tied to global trends |
| Labor Costs and Fees | Added to the raw gold rate, influencing final purchase prices |
The Venezuelan gold market has many challenges. These include illegal mining, human rights issues, and environmental harm. It’s important to understand these issues to improve the market.
This will help make the Venezuela gold trading better. We need sustainable, fair, and honest practices in this sector.
“The Orinoco Mining Arc (OMA) covers a surface area of 43,184 square miles, an area larger than the size of Cuba.”
Gold Investment Strategies in Venezuela
In Venezuela, you can choose to own physical gold or trade digital gold. Each option has its own benefits. Knowing the differences can help you make a smart investment plan.
Physical Gold vs. Digital Trading
Physical gold is a real asset that can protect you from economic troubles. You can own gold bars or coins directly. But, you need to think about safe storage and insurance.
Digital gold trading is more liquid and easy to use. It lets you quickly buy, sell, and trade gold.
Risk Management Techniques
Investing in Venezuelan gold needs careful risk management. The market can be unpredictable. To reduce risk, diversify your investments by adding 5-10% to commodities like gold.
Also, keep up with market trends, rules, and world events. This knowledge helps you make better investment choices.
Portfolio Diversification with Gold
Adding gold to your portfolio can be very beneficial. Gold is a real asset that doesn’t always move with other investments. This balance can improve your returns and protect your wealth in Venezuela’s economic ups and downs.