18 Karat Gold Price in Nigeria (2023)

Gold rates among the top valuable items in the world to date, and this does not look like changing anytime soon. Whether as a pure gold bar or coins or as jewelries, gold has maintained a steady value in the global economic space and has overtime shown it is a great investment on the long run. The 18 Karat Gold is a popular form of gold, especially in the jewelry section. Typically, 18 karat gold represents about 75 percent gold and other metals. They offer a great equilibrium between purity and durability, hence rating them among the most sought after.

18 Karat Gold price in Nigeria

Here, we will take a look at how much 18 Karat Gold sells for in the current market in Nigeria.

18 Karat Gold price in Nigeria

The 18 Karat gold is among the most sought after gold category in Nigeria. The value of gold, like all other categories of gold, depends largely on the currency exchange rate at the period you are trading the gold. Although the price of 18 K gold has been relatively steady over the past months, there is still slight various in the process they go for. The list below shows the prices of various categories of 18 K gold as gathered in the current market.

Prices of 18 Karats Gold per Gram (1 Gram) – N18, 000 – N18, 200
Prices of 18 Karats Gold 10 Grams – N180, 000 – N182, 000
Prices of 18 Karats Gold 1 Kilo – N18 million – N18.3 Million
Prices of 18 Karats Gold Tola 11.66 Grams – N210, 000 – N212, 000
Prices of 18 Karats Gold Tola 12.5 Grams – N225, 000 – N227, 000
Prices of 18 Karats Gold Tael 37.5 Grams – N678, 000 – N680, 000
Prices of 18 Karats Gold Tael 37.8 Grams – N683, 000 – N685, 000
Prices of 18 Karats Gold Grain – N1, 160 – N1, 200
Prices of 18 Karats Gold Baht – N265, 000 – N267, 000
Prices of 18 Karats Gold Ratti – N3, 280 – N3, 300

The list above highlights the prices of various categories of 18 Karat gold as gathered in the current market. It should be noted that the variation in prices as highlighted above is as a result of the variation in currency exchange rate. While we can guarantee the prices highlighted above, it is essential for buyers to confirm the current prices of the 18 K gold in the market before buying, as there could be a rise or dip in the prices as a result of fluctuation in the naira-dollar exchange rate.

How to Identify 18 K Gold

The Karat (or Carat) is mainly used to measure the quantity of actual gold contain in a piece it is made with. For instance, if a jewelry is, say 18 Karats (or 18K), it means that of the total of 24 parts of the piece, 18 parts are pure gold, while the remaining 6 parts contain other kinds of metals. If we express this in terms of percentages, we can say 18 karat gold represents about 75 percent gold and the remaining 25 percent contains other kinds of metals, which could include nickel zinc, and many more.

Identifying 18K jewelry, for instance, has been quite a challenge to many people. While some have devised a simple means to recognize 18 Karat gold, some others still have issues differentiating between the types available. Generally, identifying 18K jewelry is not such a big deal, considering the fact that the piece will be stamped with the corresponding karat number. In most cases, there will be stamps on the corresponding piece you are looking to purchase. They could stamp them as 18K, or 18 Karat, or other similar variation to just highlight the quantity of gold contained in the piece. In some other cases, they could label the pieces in terms of the percentages. For instance, they could label 18 karat jewelry as 0.75, which indicates the piece contains 75 percent gold.

When To Buy 18 Karat Gold

The quantity of gold in a piece, say a jewelry, has many things to do with the texture and overall outlook of the jewelry. For instance, 18 karat gold comes as a very great choice is you are looking to purchase a jewelry that is pure to a large extent. Apart from the fact that this grade of gold is largely pure, it is considered very durable and easy to maintain. It also offers great value for money and maintains its value for a long period, regardless of the state of the economy.

You should note however, that if you are looking to get a jewelry, and your skin is quite sensitive to nickel, for example, you can settle for 18 Karat gold as your skin could react to other kinds, like the 14K. if you are looking to get jewelry for everyday use, then you might need to consider pieces with lesser quantity of gold. This is because some jewelry, like rings and bracelets, are prone to scratches ad could in turn delimit the value of the entire piece. Hence, 10 karat or 14 karat gold could be a better choice for everyday use, as they are not prone to scratch easily. For jewelries that wouldn’t be worn every day, you can pick 18 karat gold in such instances, as they would be less exposed to bumps which could lead to scratches or bending of the jewelry.