Uganda · UGX · August 2022
Gold Price in Uganda — August 2022
In August 2022, the gold price in Uganda closed at approximately USh6,402,920 per troy ounce, equivalent to USh2,401,134 per tola or USh205,858 per gram. This represents a -3.19% change on the month (USh6,613,751 open → USh6,402,920 close).
Open
USh6,613,751
per troy ounce
Close
USh6,402,920
per troy ounce
High
USh6,725,603
per troy ounce
Low
USh6,402,920
per troy ounce
All unit prices at August 2022 close — Uganda
| Unit | Weight | Closing UGX price |
|---|---|---|
| Troy ounce | 31.1035 g | USh6,402,920 |
| Gram | 1.0000 g | USh205,858 |
| 10 grams | 10 g | USh2,058,585 |
| Kilogram | 1,000 g | USh205,858,497 |
| Tola | 11.664 g | USh2,401,134 |
Karat-purity breakdown at August 2022 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KUGANDA STD | USh205,653 | USh2,398,732 |
| 22K | USh188,566 | USh2,199,438 |
| 21K | USh180,126 | USh2,100,992 |
| 18K | USh154,394 | USh1,800,850 |
| 14K | USh120,427 | USh1,404,663 |
| 10K | USh85,843 | USh1,001,273 |
Daily gold price in UGX — August 2022
August 2022 gold market: A brief bounce undone at Jackson Hole
BearishA mid-month bounce crushed by a hawkish Jackson Hole.
Gold bounced toward $1,800 in early August 2022 on hopes of a Fed slowdown, but the rally reversed hard after Chair Powell's hawkish Jackson Hole speech on August 26 reaffirmed the central bank's commitment to crushing inflation. The metal slid back toward $1,710 by month-end.
What drove gold in August 2022
- early-month Fed-slowdown hopes
- hawkish Powell Jackson Hole speech (Aug 26)
- rising real yields
- firm dollar
Key events in August 2022
- Aug 26Powell's hawkish Jackson Hole speech reverses gold's bounce
What happened next
The renewed hawkishness drove gold to its 2022 low the following month.
For gold buyers in Uganda
August was a bull trap — the early bounce evaporated the moment the Fed reasserted its resolve.
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 Uganda gold market
Uganda 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
UGX (USh)
Daily gold price — August 2022, Uganda
USh6,613,751
$1,772.40/oz
USh6,641,364
$1,779.80/oz
USh6,572,331
$1,761.30/oz
USh6,654,051
$1,783.20/oz
USh6,617,109
$1,773.30/oz
USh6,679,593
$1,790.05/oz
USh6,657,410
$1,784.10/oz
USh6,699,203
$1,795.30/oz
USh6,698,456
$1,795.10/oz
USh6,704,427
$1,796.70/oz
USh6,687,262
$1,792.10/oz
USh6,725,603
$1,802.38/oz
USh6,629,423
$1,776.60/oz
USh6,623,080
$1,774.90/oz
USh6,594,347
$1,767.20/oz
USh6,588,376
$1,765.60/oz
USh6,533,150
$1,750.80/oz
USh6,526,769
$1,749.09/oz
USh6,467,848
$1,733.30/oz
USh6,517,477
$1,746.60/oz
USh6,514,119
$1,745.70/oz
USh6,543,598
$1,753.60/oz
USh6,535,016
$1,751.30/oz
USh6,513,578
$1,745.56/oz
USh6,535,016
$1,751.30/oz
USh6,456,654
$1,730.30/oz
USh6,402,920
$1,715.90/oz
How Uganda 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 UGX/USD exchange rate comes from exchangerate-api.com's 2022 year-end snapshot.
Conversion. Every UGX figure on this page is computed as XAU/USD price × UGX/USD rate. We use the year-end exchange rate consistently across all August 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 Uganda, add the country-specific levies described in the “Ugandagold market” section above.
FAQ — Uganda gold price in August 2022
What was the gold price in Uganda in August 2022?
In August 2022, gold in Uganda opened at USh6,613,751/oz and closed at USh6,402,920/oz — a move of -3.19% on the month. Per tola: ≈USh2,401,134; per gram: ≈USh205,858; per 10g: ≈USh2,058,585.
What was the 24K gold rate per tola in Uganda in August 2022?
The 24K gold rate per tola in Uganda at the August 2022 close was approximately USh2,401,134, derived from international XAU/USD spot of $1,715.90/oz times the 2022-end UGX/USD exchange rate of 3,731.5227. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Uganda in August 2022?
Uganda's most-quoted retail standard is 24K per gram. At the August 2022 close, that worked out to approximately USh205,653 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
UGX prices on this page are computed from the verified international XAU/USD spot price for August 2022 (sourced from gold-api.com), multiplied by the 2022-end UGX/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 USh figures here represent the international gold spot price converted to UGX at the 2022-end exchange rate. Uganda'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 Uganda? See live gold prices in Uganda 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 August 2022 page with the country-by-country list at the bottom.
Other markets? Compare August 2022 prices across other major gold-trading countries: Kenya, Tanzania, Nigeria, South Africa, Ghana, Zambia.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to UGX 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 Uganda before transacting.