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Stronger shilling takes shine off gold listing on NSE
A stronger Kenya Shilling has seen the price of the NSE listed ETF hit by at least 21 percent mirroring the lower returns for gold investors at the local bourse.
Gold has had a bullish 2024 with the price of the precious metal rallying on the back of renewed geopolitical tensions including escalation of conflict in the Middle East.
As of December 17, the gold spot which refers to the price at which gold is bought and sold at was up 26.82 percent on a year-to-date basis with the cost of gold sitting at Sh341,886.71 ($2,644.34) per ounce or 28.34 grams.
