16k Gold Price in Nigeria (NGN)
Enter a weight to value 16k gold by the troy ounce for buyers and sellers in Nigeria, priced from the live gold market. 16 carat (667) is 66.67% gold, and every figure below is priced at that fineness. Priced in Nigerian Naira directly by the rates API — gold is quoting ₦5,636,525 per troy ounce.
Value of 1 ozt of 16k Gold
₦3,757,683
₦3,757,683 per troy ounce · ₦120,812 per gram
5,636,525.13 ÷ 31.1034768 × 0.6667 × 31.1035 = ₦3,757,683
Prices on this page are delayed by up to 15 minutes. For real-time rates, use the CommodityPriceAPI.
Gold value by unit
One of each measure, at the current gold price.
| Measure | Detail | Value |
|---|---|---|
| Gram | 1 g | ₦120,812 |
| 10 grams | 10 g | ₦1,208,123 |
| Kilo | 1,000 g | ₦120,812,327 |
| Troy ounce | 31.1034768 g | ₦3,757,683 |
| Tola | 11.6638038 g | ₦1,409,131 |
| Pennyweight | 1.5551738 g | ₦187,884 |
| Baht (gold bar) | 15.244 g | ₦1,841,663 |
| Bhori | 11.6638038 g | ₦1,409,131 |
| Masha | 0.9719837 g | ₦117,428 |
| Ratti | 0.121498 g | ₦14,678 |
| Grain | 0.0647989 g | ₦7,829 |
| Sovereign (fine gold) | 7.32238 g | ₦884,634 |
| Tael (Hong Kong) | 37.7994 g | ₦4,566,633 |
| Tael (Taiwan) | 37.5 g | ₦4,530,462 |
| Tael / liang (mainland) | 50 g | ₦6,040,616 |
Gold value by purity
One troy ounce at each purity commonly sold.
| Measure | Detail | Value |
|---|---|---|
| 24 carat (999.9 fine) | 99.99% pure | ₦5,635,961 |
| 22 carat (916) | 91.67% pure | ₦5,166,815 |
| 21 carat (875) | 87.50% pure | ₦4,931,959 |
| 20 carat (833) | 83.33% pure | ₦4,697,104 |
| 18 carat (750) | 75.00% pure | ₦4,227,394 |
| 16 carat (667) | 66.67% pure | ₦3,757,683 |
| 14 carat (585) | 58.33% pure | ₦3,287,973 |
| 12 carat (500) | 50.00% pure | ₦2,818,263 |
| 10 carat (417) | 41.67% pure | ₦2,348,552 |
| 9 carat (375) | 37.50% pure | ₦2,113,697 |
| 8 carat (333) | 33.33% pure | ₦1,878,842 |
The same figure in other currencies
Every currency the rates API supports is available in the calculator above — pick it from the list and the figure is re-quoted in that currency without leaving this page.
How this is calculated
1 troy ounce = 31.1034768 g. This is the unit the spot market itself quotes, so no conversion is applied. Gold trades per troy ounce, so every figure here starts from that quote and is converted with the factor shown next to the result.
This is the spot-derived value, not the shop counter price in Nigeria. Local retail rates are set by the jewellers' association and usually sit above this figure once making charges and duty are added.
Every gold calculator
Main markets
By purity (NGN)
Gold price in every currency
Each one is its own page, priced by the rates API in that currency directly.
Americas
- Mexico (MXN)
- Brazil (BRL)
- Argentina (ARS)
- Chile (CLP)
- Colombia (COP)
- Peru (PEN)
- Uruguay (UYU)
- Paraguay (PYG)
- Bolivia (BOB)
- Venezuela (VES)
- Cuba (CUP)
- the Dominican Republic (DOP)
- Guatemala (GTQ)
- Honduras (HNL)
- Nicaragua (NIO)
- Costa Rica (CRC)
- Panama (PAB)
- Jamaica (JMD)
- Trinidad and Tobago (TTD)
- Barbados (BBD)
- the Bahamas (BSD)
- Belize (BZD)
- Bermuda (BMD)
- the Cayman Islands (KYD)
- the Eastern Caribbean (XCD)
- Curacao and Sint Maarten (XCG)
- Aruba (AWG)
- Haiti (HTG)
- Suriname (SRD)
- Guyana (GYD)
- the Falkland Islands (FKP)
Europe
Middle East
Africa
- South Africa (ZAR)
- Nigeria (NGN)
- Egypt (EGP)
- Kenya (KES)
- Ghana (GHS)
- Morocco (MAD)
- Algeria (DZD)
- Tunisia (TND)
- Libya (LYD)
- Ethiopia (ETB)
- Tanzania (TZS)
- Uganda (UGX)
- Zambia (ZMW)
- Malawi (MWK)
- Mozambique (MZN)
- Angola (AOA)
- Botswana (BWP)
- Namibia (NAD)
- Lesotho (LSL)
- Eswatini (SZL)
- Rwanda (RWF)
- Burundi (BIF)
- the DR Congo (CDF)
- Central Africa (XAF)
- West Africa (XOF)
- the Gambia (GMD)
- Guinea (GNF)
- Sierra Leone (SLE)
- Liberia (LRD)
- Cabo Verde (CVE)
- Sao Tome and Principe (STN)
- Mauritania (MRU)
- the Seychelles (SCR)
- Mauritius (MUR)
- Madagascar (MGA)
- the Comoros (KMF)
- Djibouti (DJF)
- Somalia (SOS)
- Eritrea (ERN)
- Sudan (SDG)
- South Sudan (SSP)
- Saint Helena (SHP)
South Asia
East & Southeast Asia
Central Asia & Caucasus
Every unit — gram, ounce, tola, masha, tael, sovereign — is available in the calculator above without leaving the page.
Common questions
How much is 1 troy ounce of 16k gold worth today?
1 troy ounce is worth about ₦3,757,683, from a spot price of ₦5,636,525 per troy ounce.
How many grams are in 1 troy ounce?
1 troy ounce = 31.1034768 g. This is the unit the spot market itself quotes, so no conversion is applied.
What does 16k mean?
16 carat is 66.7% gold. At today's market that works out to ₦120,812 per gram.
Is this the same as the 16k gold rate quoted in Nigeria?
Not exactly. This converts the international spot price into Nigerian Naira at the live exchange rate shown above. Local dealers add making charges, duty and their own margin, so the counter price in Nigeria is normally higher.
How often does this price update?
Every 15 minutes. The figure on this page is a cached quote and can be up to 15 minutes behind the market, and the timestamp above it always states when the price was actually taken. For real-time rates, request the same data from the CommodityPriceAPI directly.