Athman Gold buyers, here is your clear guide for Monday July 20. Gold has slipped below $4,000 per ounce, trading near $3,995, as the US-Iran war escalated over the weekend into its tenth day. While the news is dramatic, for buyers this means gram prices at our counter are now among the very lowest of the entire year. Here is exactly what it means and what to consider.
Today’s prices:
24K: ~$128.55/gram | 22K: ~$117.85/gram | 21K: ~$112.45/gram | 18K: ~$96.40/gram
Savings versus January all-time high ($5,597/oz):
24K: saving about $51.95/gram | On a 20g piece: about $1,039 saved | On a 50g necklace: about $2,598 saved
Savings versus one month ago (gold ~$4,240):
24K: saving about $7.90/gram | On a 20g piece: about $158 saved | On a 50g necklace: about $395 saved
These are among the best gram prices of the whole year.
Why did gold fall when the war escalated? This surprises many buyers, so here is the simple version. The war disrupts the Strait of Hormuz, where much of the world’s oil passes, so oil prices jumped about 30% — Brent is now above $90. Higher oil means higher inflation. Higher inflation means the US Federal Reserve is more likely to raise interest rates — several Fed officials are now calling for a hike, and September odds rose to about 53%. Because gold pays no interest, higher rates push it down. So the war pushes gold down, not up.
What should buyers do?
For weddings and gifts: today’s prices are among the best of the year — a 50-gram necklace is roughly $2,598 cheaper than at January’s peak. An excellent time to buy.
For long-term savers: while the price is low, the world’s central banks are buying heavily — China at its fastest pace in over two and a half years. Analysts’ base case sees gold recovering toward $4,500 to $4,900 by year-end. Buying at these levels follows the smart money.
For those who can wait: gold could test lower toward $3,900 if the war escalates further or the Fed sounds hawkish on July 29. It could also rebound sharply if a ceasefire is reached. Consider buying in stages.
A World Cup note for our customers: With yesterday’s World Cup final capturing the world’s attention, here’s a fact worth sharing — the FIFA World Cup trophy is made of 18-karat gold and contains nearly 5 kilograms of pure gold, worth around $713,000 at today’s prices. It’s a reminder that gold’s appeal spans everything from the world’s greatest trophy to the jewellery in your family.
Important: The market is highly volatile. Please confirm the live price with us before purchasing.
Current prices: 24K — $128.55/gram | 22K — $117.85/gram | 21K — $112.45/gram
All prices USD. Monday July 20 session. Highly volatile — confirm live price before purchase.
