Zambia · ZMW · March 2022
Gold Price in Zambia — March 2022
In March 2022, the gold price in Zambia closed at approximately ZK35,050 per troy ounce, equivalent to ZK13,144 per tola or ZK1,127 per gram. This represents a -0.29% change on the month (ZK35,151 open → ZK35,050 close).
Open
ZK35,151
per troy ounce
Close
ZK35,050
per troy ounce
High
ZK36,798
per troy ounce
Low
ZK34,469
per troy ounce
All unit prices at March 2022 close — Zambia
| Unit | Weight | Closing ZMW price |
|---|---|---|
| Troy ounce | 31.1035 g | ZK35,050 |
| Gram | 1.0000 g | ZK1,127 |
| 10 grams | 10 g | ZK11,269 |
| Kilogram | 1,000 g | ZK1,126,870 |
| Tola | 11.664 g | ZK13,144 |
Karat-purity breakdown at March 2022 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KZAMBIA STD | ZK1,126 | ZK13,131 |
| 22K | ZK1,032 | ZK12,040 |
| 21K | ZK986 | ZK11,501 |
| 18K | ZK845 | ZK9,858 |
| 14K | ZK659 | ZK7,689 |
| 10K | ZK470 | ZK5,481 |
Daily gold price in ZMW — March 2022
March 2022 gold market: Near-record spike, then the first Fed hike
VolatileA near-record war spike met the start of Fed tightening.
Gold briefly touched about $2,070 on March 8 — within a whisker of its record — as the Ukraine war and commodity shock peaked. It then reversed as the Federal Reserve delivered its first rate hike on March 16, closing the month near $1,940.
What drove gold in March 2022
- war and commodity-price peak
- first Fed rate hike (Mar 16, +25bp)
- extreme volatility
- real yields beginning to climb
Key events in March 2022
- Mar 8Gold spikes to ~$2,070, near its all-time high
- Mar 16Fed hikes rates for the first time since 2018
What happened next
The hiking cycle that began here would pressure gold for the next six months.
For gold buyers in Zambia
The March 8 near-record proved a trap; the Fed's tightening campaign that began days later would pressure gold for most of the year.
Related months to read
The 2022 gold market: Russia sanctions and a paradigm shift
Russia invaded Ukraine on February 24, 2022. G7/EU froze $300 billion of Russian central-bank reserves — the most consequential monetary event since 1971. Central-bank gold buying hit a record 1,082 tonnes (highest ever). Year close: $1,824 despite Fed's aggressive tightening.
Key drivers in 2022
Russia sanctions, central-bank reserve freezing, Fed hikes to 4.5%, gold's structural role redefined
2022 XAU/USD high
$2,070 (Mar)
2022 XAU/USD low
$1,621 (Sep)
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 Zambia gold market
Zambia 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
ZMW (ZK)
Daily gold price — March 2022, Zambia
ZK35,151
$1,947.83/oz
ZK34,802
$1,928.50/oz
ZK34,822
$1,929.60/oz
ZK35,106
$1,945.30/oz
ZK36,141
$2,002.67/oz
ZK35,750
$1,981.00/oz
ZK36,798
$2,039.10/oz
ZK35,892
$1,988.90/oz
ZK36,031
$1,996.60/oz
ZK35,708
$1,978.70/oz
ZK35,886
$1,988.52/oz
ZK35,264
$1,954.10/oz
ZK34,535
$1,913.70/oz
ZK34,526
$1,913.20/oz
ZK35,185
$1,949.70/oz
ZK34,934
$1,935.80/oz
ZK35,038
$1,941.53/oz
ZK34,921
$1,935.10/oz
ZK34,564
$1,915.30/oz
ZK34,862
$1,931.80/oz
ZK35,465
$1,965.20/oz
ZK35,259
$1,953.80/oz
ZK35,343
$1,958.47/oz
ZK34,958
$1,937.10/oz
ZK34,469
$1,910.00/oz
ZK34,900
$1,933.90/oz
ZK35,050
$1,942.20/oz
How Zambia 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 ZMW/USD exchange rate comes from exchangerate-api.com's 2022 year-end snapshot.
Conversion. Every ZMW figure on this page is computed as XAU/USD price × ZMW/USD rate. We use the year-end exchange rate consistently across all March 2022 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 Zambia, add the country-specific levies described in the “Zambiagold market” section above.
FAQ — Zambia gold price in March 2022
What was the gold price in Zambia in March 2022?
In March 2022, gold in Zambia opened at ZK35,151/oz and closed at ZK35,050/oz — a move of -0.29% on the month. Per tola: ≈ZK13,144; per gram: ≈ZK1,127; per 10g: ≈ZK11,269.
What was the 24K gold rate per tola in Zambia in March 2022?
The 24K gold rate per tola in Zambia at the March 2022 close was approximately ZK13,144, derived from international XAU/USD spot of $1,942.20/oz times the 2022-end ZMW/USD exchange rate of 18.0463. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Zambia in March 2022?
Zambia's most-quoted retail standard is 24K per gram. At the March 2022 close, that worked out to approximately ZK1,126 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
ZMW prices on this page are computed from the verified international XAU/USD spot price for March 2022 (sourced from gold-api.com), multiplied by the 2022-end ZMW/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 ZK figures here represent the international gold spot price converted to ZMW at the 2022-end exchange rate. Zambia'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.
How close did gold get to its record in March 2022?
Gold reached about $2,070 per ounce on March 8, 2022 — just short of its August 2020 all-time high near $2,075 — before reversing as the Fed began raising interest rates.
Want today's rate in Zambia? See live gold prices in Zambia with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2022 archive or the USD-only March 2022 page with the country-by-country list at the bottom.
Other markets? Compare March 2022 prices across other major gold-trading countries: South Africa, Tanzania, Kenya, Botswana, Namibia.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to ZMW at the 2022-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 Zambia before transacting.