About the Gold price in Nigeria
The live gold price in Nigeria is shown in NGN and tracks the international Gold spot market, which is quoted in US dollars per troy ounce. We convert that spot rate into NGN at the live mid-market exchange rate, so the gold rate you see updates throughout the trading day — currently about ₦184,318.89 per gram for pure metal.
Because most gold sold in Nigeria is alloyed, we break the price down by the purities used locally — 24K, 22K, 18K. The spot price is for pure (.999) metal; every other grade is worth proportionally less, so a piece is valued as the gram price multiplied by its purity. Use the purity selector and quantity calculator above to value the exact karat and weight you hold.
Frequently asked questions
What is the gold price in Nigeria today?
The gold price in Nigeria is quoted in NGN and tracks the international Gold spot market, which trades in US dollars. As of the latest update the gold spot price is about ₦5,732,963 per troy ounce in NGN. Use the live rate above for the current price per gram, per 10 grams, and per troy ounce.
How is the gold rate in Nigeria calculated?
We take the international Gold spot price (USD per troy ounce) and convert it to NGN using the live USD exchange rate. The pure-metal (.999) price is then adjusted for purity — common purities include 24K, 22K, 18K — so you can see the rate for the exact karat or fineness you hold.
What is the difference between the purities shown for gold?
Purity is the share of pure Gold in an item. The spot price is for pure metal; lower purities are worth proportionally less. For Gold in Nigeria, common purities include 24K, 22K, 18K. Multiply the pure rate by the purity fraction to get the value of an alloyed item.
Why does the gold price in Nigeria keep changing?
Gold prices move with global supply and demand, central-bank activity, and geopolitical events, and the Nigeria price also shifts with the NGN exchange rate. International Gold trades nearly 24 hours on weekdays, so the local rate updates throughout the day.
Is the gold price shown here the buying or selling rate?
The price shown is the indicative international spot rate converted to NGN, for reference only. Jewellers, banks, and bullion dealers in Nigeria add a premium or making charge when you buy and apply a spread when you sell, so actual transaction prices will differ.
Gold price in other countries
Other metal prices in Nigeria
Disclaimer: Gold prices on this page are indicative spot rates (XAU/USD via Yahoo Finance, converted at mid-market FX) provided for reference only. They are not buy or sell quotes — jewellers, banks, and bullion dealers in Nigeria add a premium, making charge, or spread, so actual transaction prices will differ.