This blog is to help you find the best deal on gold in Nigeria. We’ve prepared this article to make it easy for you to learn how much the 1 gram of gold price in Nigeria is at different gold dealers in Nigeria.
If you are searching for 1 gram of gold price in Nigeria, then you are at the right page. At present, we want to know about 1 gram of gold price in Nigeria which is a hot topic on Google. It is often asked by different people on discussion forums or any other websites. Many individuals have tried to find out this information and they wanted it to know before buying 1 gram of gold in Nigeria.
November 2014, the labor cost to mine 1 gram of gold was $56. This is extremely lower than it was in 2012 when it was approximately $115 per gram. The drop in cost is due to the increase in production by mining companies.
1 Gram of Gold Price in Nigeria Product Information
Gold Gram Karats Often Used in Nigeria
Note: The names “Karat” and “Carat” should not be confused. A diamond’s weight is measured in carats, with 1 carat equaling 0.2 kg. While a karat is a measure of gold purity, karat 18 refers to gold that is 18/24 pure, meaning that the purest gold available should be karat 24.
The following Gram karats are frequently used in Nigeria and other nations:
The purity of karat 24, often known as (.999), is 999/1000. In America and Europe, it is practically never used to make jewelry, although it is occasionally used in Asia. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 27,646.57 Nigerian Naira.
The purity of karat 22 (commonly known as “.916”) is 916/1000. Practically speaking, it is frequently utilized in Asia but is rarely used in America and Europe while producing jewelry. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 25,349.60 Nigerian Naira.
The purity of karat 21, often known as (.875), is 875/1000. Realistically, it is only sometimes used to make jewelry in various Middle Eastern nations. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 24,214.96 Nigerian Naira.
Karat 18 is 750/1000 pure and sometimes known as (.750). Practically speaking, it is most prevalent in Europe and occasionally used to make jewelry in America and Asia. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 20,755.68 Nigerian Naira.
The purity of karat 14, often known as (.585), is 585/1000. Nevertheless, karat 14 is really somewhat more pure than this, making it called.585 rather than.583, even though it should be 14/24 pure, or 583. Practically speaking, it is most often used in America, seldom used in Europe, and infrequently used in Asia. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 16,189.43 Nigerian Naira per gram of 14-karat gold.
Karat 12 is 500/1000 pure and is sometimes known as (.500). In reality, it is rarely applied. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 13,837.12 Nigerian Naira.
The purity of karat 10, usually known as (.417), is 417/1000. Practically speaking, it is never used in Asia and is occasionally used in Europe. In America, it serves as the minimal recognized norm. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 11,540.16 Nigerian Naira.
The purity of karat 9, often known as (.375), is 375/1000. In real life, it is occasionally used to Canada and England. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 10,377.84 Nigerian Naira.
Hardly never is Karat 8 utilized in the USA and Asia. In Europe, it is considered the bare minimum. The price of gold in Nigeria as of today, Saturday, March 11, 2023, is 9,215.52 Nigerian Naira.
Conclusion
In November 2014, the labor cost to mine 1 gram of gold was $56. This is extremely lower than it was in 2012 when it was approximately $115 per gram. The drop in cost is due to the increase in production by mining companies.
