South Africa · ZAR · March 2021
Gold Price in South Africa — March 2021
In March 2021, the gold price in South Africa closed at approximately R26,930 per troy ounce, equivalent to R10,099 per tola or R866 per gram. This represents a -2.49% change on the month (R27,616 open → R26,930 close).
Open
R27,616
per troy ounce
Close
R26,930
per troy ounce
High
R27,821
per troy ounce
Low
R26,817
per troy ounce
All unit prices at March 2021 close — South Africa
| Unit | Weight | Closing ZAR price |
|---|---|---|
| Troy ounce | 31.1035 g | R26,930 |
| Gram | 1.0000 g | R866 |
| 10 grams | 10 g | R8,658 |
| Kilogram | 1,000 g | R865,814 |
| Tola | 11.664 g | R10,099 |
Karat-purity breakdown at March 2021 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KSOUTH AFRICA STD | R865 | R10,089 |
| 22K | R793 | R9,251 |
| 21K | R758 | R8,836 |
| 18K | R649 | R7,574 |
| 14K | R507 | R5,908 |
| 10K | R361 | R4,211 |
Daily gold price in ZAR — March 2021
March 2021 gold market: Gold bottoms as yields peak
BearishThe year's low, set as the yield spike climaxed.
Gold slid to its 2021 low around $1,680 in early March as 10-year yields peaked near 1.75%. Once the yield surge stalled, the metal stabilised and clawed back toward $1,715 into month-end.
What drove gold in March 2021
- 10-year yields peaking near 1.75%
- strong US stimulus passage
- firm dollar
- fading safe-haven demand
Key events in March 2021
- Mar 8Gold touches ~$1,680, its low for the year
What happened next
With yields topping out, gold rebounded steadily through the spring.
For gold buyers in South Africa
March's low near $1,680 marked the bottom of gold's post-2020 correction — a level buyers would not see again that year.
Related months to read
The 2021 gold market: Consolidation below 2020 highs
Gold traded mostly sideways in 2021 between $1,680 and $1,950 as the Fed signaled coming tightening. Cryptocurrency mania peaked in November. Inflation began running above target. Year close: $1,829.
Key drivers in 2021
Crypto-boom drawing capital, Fed taper announcement, inflation rising, equity rally
2021 XAU/USD high
$1,945 (Jun)
2021 XAU/USD low
$1,676 (Mar)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The South Africa gold market
South Africa retail gold prices are quoted in the local currency per gram for 24K and 22K purities, and per troy ounce for investment-grade bullion. Local rates usually sit above the international XAU/USD spot price after import duties, sales taxes, and jewellery making charges are applied. Use this archive as the international reference price; final retail rates depend on your dealer and the date's exchange rate.
Standard quote unit
gram
Common purity
24K
Currency
ZAR (R)
Daily gold price — March 2021, South Africa
R27,616
$1,734.20/oz
R27,452
$1,723.90/oz
R27,253
$1,711.40/oz
R27,264
$1,712.10/oz
R27,013
$1,696.30/oz
R27,302
$1,714.45/oz
R26,866
$1,687.10/oz
R27,341
$1,716.90/oz
R27,330
$1,716.20/oz
R27,459
$1,724.30/oz
R27,148
$1,704.80/oz
R27,622
$1,734.58/oz
R27,449
$1,723.70/oz
R27,629
$1,735.00/oz
R27,545
$1,729.70/oz
R27,484
$1,725.90/oz
R27,632
$1,735.20/oz
R27,821
$1,747.05/oz
R27,648
$1,736.20/oz
R27,489
$1,726.20/oz
R27,557
$1,730.50/oz
R27,666
$1,737.30/oz
R27,578
$1,731.80/oz
R27,603
$1,733.37/oz
R27,167
$1,706.00/oz
R26,817
$1,684.00/oz
R26,930
$1,691.10/oz
How South Africa gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The ZAR/USD exchange rate comes from exchangerate-api.com's 2021 year-end snapshot.
Conversion. Every ZAR figure on this page is computed as XAU/USD price × ZAR/USD rate. We use the year-end exchange rate consistently across all March 2021 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in South Africa, add the country-specific levies described in the “South Africagold market” section above.
FAQ — South Africa gold price in March 2021
What was the gold price in South Africa in March 2021?
In March 2021, gold in South Africa opened at R27,616/oz and closed at R26,930/oz — a move of -2.49% on the month. Per tola: ≈R10,099; per gram: ≈R866; per 10g: ≈R8,658.
What was the 24K gold rate per tola in South Africa in March 2021?
The 24K gold rate per tola in South Africa at the March 2021 close was approximately R10,099, derived from international XAU/USD spot of $1,691.10/oz times the 2021-end ZAR/USD exchange rate of 15.9245. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in South Africa in March 2021?
South Africa's most-quoted retail standard is 24K per gram. At the March 2021 close, that worked out to approximately R865 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
ZAR prices on this page are computed from the verified international XAU/USD spot price for March 2021 (sourced from gold-api.com), multiplied by the 2021-end ZAR/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The R figures here represent the international gold spot price converted to ZAR at the 2021-end exchange rate. South Africa's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in South Africa? See live gold prices in South Africa with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2021 archive or the USD-only March 2021 page with the country-by-country list at the bottom.
Other markets? Compare March 2021 prices across other major gold-trading countries: Nigeria, Kenya, Tanzania, Zambia, Botswana, Namibia.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to ZAR at the 2021-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in South Africa before transacting.