How is the gold price in Libya calculated?
Gold is quoted globally per troy ounce in US dollars, then converted at the current exchange rate — about 27,514.430 LYD per ounce today. One troy ounce is 31.1035 grams, so the 24K gram price is the ounce price divided by 31.1 — about 884.609 LYD right now.
Each karat is priced by its purity: 22K is 22/24 of the 24K price, 21K is 21/24 and 18K is 18/24. Those are the figures in the table above.
Why is the shop price different?
These are raw gold prices. Jewelers add a making charge and margin. When you sell, dealers usually buy slightly below the raw price. Use the gold calculator to check a fair price including making charges.
What moves gold prices?
Gold reacts to the US dollar, interest rates and inflation, and tends to rise during economic or geopolitical stress as a safe haven. Seasonal jewelry demand and central-bank buying also shape the trend.