What was the gold price on January 20, 2020?

Gold closed at approximately $1,560.20 per troy ounce on January 20, 2020 — about $50.16 per gram and $585.08 per tola. This is the international XAU/USD spot price; local retail rates add import duties, taxes and dealer making charges.

Did gold rise or fall on January 20, 2020?

Gold fell about 0.17% on January 20, 2020 versus the previous trading session — moving from $1,562.80 to $1,560.20 per ounce.

Why did gold jump in early January 2020?

The killing of Iranian general Qassem Soleimani on January 3 triggered fears of a wider US–Iran conflict, sending investors into safe-haven gold, which briefly touched about $1,610 per ounce.

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Historical Unit Breakdown

Gold Price in Every Weight Unit — January 20, 2020

International XAU/USD gold closed at $1,560 per troy ounce on this date, equivalent to $50.16 per gram. The table below converts that reference value into every major regional gold weight unit — from the South Asian Tola, Masha and Rattito Bangladesh's Vori, Thailand's Baht, Vietnam's Lượng, Iran's Mesghal, and the Chinese Tael, Mace and Candareen.

South Asian

5 units

UnitWeightPrice (USD)

1 Tolaتولا · तोला

Pakistan, India, Nepal

11.664 g$585.08

1 Mashaماشہ

1/12 Tola

0.972 g$48.76

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$6.09

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$585.08

1 Ana (Anna)আনা

1/16 Vori

0.729 g$36.57

Metric & Global

3 units

UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$50.16

1 Kilogramkg

Bulk trade

1,000 g$50,162

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$1,560

East & Southeast Asian

6 units

UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$1,877

1 CN Tael兩

Mainland China

31.25 g$1,568

1 Mace錢

1/10 HK Tael

3.7429 g$187.75

1 Candareen分

1/100 HK Tael

0.37429 g$18.77

1 Bahtบาท

Thailand

15.244 g$764.66

1 Luong (Lượng)lượng

Vietnam

37.5 g$1,881

Middle Eastern

2 units

UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$231.16

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$213.19

Imperial & Western

2 units

UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$78.01

1 Graingr

1/480 Troy Oz

0.064799 g$3.25

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($1,560/oz) using fixed weight constants — 1 troy ounce = 31.1035 g, 1 tola = 11.664 g, 1 baht = 15.244 g, 1 lượng = 37.5 g, 1 mesghal = 4.6083 g, and so on. These multipliers are mathematical, not market estimates, so the conversions are exact.

Prices are shown in US dollars only. Historical local-currency gold rates depended on the exchange rate at the time (January 20, 2020 rates for PKR, INR, AED and others were materially different from today). For an accurate same-date local-currency value, see the country-specific archive link below this section when available.

The figures are pure metal value at international parity — they do not include the import duty, VAT/GST, jeweller making charges, or dealer margin that would have applied at retail counters on this date. For wedding-jewellery or coin pricing context, retail in 22K commonly added 5–15% on top of the spot value shown here.

On this day — January 20, 2020

Gold fell 0.17% from the prior trading session ($1,562.80 → $1,560.20 per ounce).

Chinese New Year: Chinese gold demand surges in the lead-up to Lunar New Year as families exchange gold pendants, rings and bars. Year-on-year, China's January–February gold imports run 30–50 percent above other months.

Monday — typically a high-volume trading day as markets digest weekend news. Asian gold imports often see Monday surges in major demand countries.

Day 20 of 366 · Q1 2020 · 5.5% through the year

January 2020 gold market: Year opens with a US–Iran war scare

Volatile

A sharp geopolitical spike that mostly held into month-end.

Gold began 2020 near $1,520 and spiked toward $1,610 in the first week after a US drone strike killed Iranian commander Qassem Soleimani, reviving Middle East war fears. The rally faded as tensions cooled, but the metal held most of its gains, closing the month around $1,585 — its highest monthly close in nearly seven years.

The Soleimani strike was a reminder that gold's fastest moves come from surprise geopolitical shocks rather than slow macro trends. What made January unusual was that gold kept most of its war premium even after the immediate crisis passed — a sign that underlying demand was already firm thanks to low real yields and a cooling Federal Reserve. In hindsight, the month was the quiet opening act before COVID-19 rewrote the entire year.

What drove gold in January 2020

US–Iran military escalation
safe-haven demand spike
soft US real yields
early reports of a novel coronavirus in China

Themes#geopolitics#safe-haven demand#Middle East

Key events in January 2020

Jan 3US airstrike kills Iran's Qassem Soleimani; gold gaps higher
Jan 8Iran missile retaliation; gold tags ~$1,610 then retreats

What happened next

The war scare faded, but within weeks a far bigger shock — COVID-19 — would dominate the rest of 2020.

For gold buyers

January rewarded buyers who already held gold; chasing the geopolitical spike near $1,600 meant paying up right before a brief cooldown.

Key terms this month

Safe-haven asset:: An investment expected to hold or gain value during market turmoil; gold is the classic example.
Real yield:: A bond's interest rate minus inflation. When real yields fall, non-yielding gold becomes relatively more attractive.