Iceland · ISK · April 2020
Gold Price in Iceland — April 2020
In April 2020, the gold price in Iceland closed at approximately kr216,552 per troy ounce, equivalent to kr81,208 per tola or kr6,962 per gram. This represents a +1.17% change on the month (kr214,055 open → kr216,552 close).
Open
kr214,055
per troy ounce
Close
kr216,552
per troy ounce
High
kr221,524
per troy ounce
Low
kr205,144
per troy ounce
All unit prices at April 2020 close — Iceland
| Unit | Weight | Closing ISK price |
|---|---|---|
| Troy ounce | 31.1035 g | kr216,552 |
| Gram | 1.0000 g | kr6,962 |
| 10 grams | 10 g | kr69,623 |
| Kilogram | 1,000 g | kr6,962,289 |
| Tola | 11.664 g | kr81,208 |
Karat-purity breakdown at April 2020 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KICELAND STD | kr6,955 | kr81,127 |
| 22K | kr6,377 | kr74,387 |
| 21K | kr6,092 | kr71,057 |
| 18K | kr5,222 | kr60,906 |
| 14K | kr4,073 | kr47,507 |
| 10K | kr2,903 | kr33,864 |
Daily gold price in ISK — April 2020
April 2020 gold market: Stimulus ignites a powerful gold rally
BullishA clean breakout to eight-year highs on stimulus.
With central banks and governments deploying trillions in stimulus, gold surged through April to about $1,700 — its highest level since 2012. Collapsing real interest rates and fears of currency debasement made non-yielding gold newly attractive, and physical demand for bars and coins overwhelmed many retail dealers.
What drove gold in April 2020
- trillions in fiscal & monetary stimulus
- real yields turning deeply negative
- currency-debasement fears
- retail bullion shortages
Key events in April 2020
- Apr 14Gold clears $1,700 for the first time since 2012
What happened next
The breakout above $1,700 opened a clear path toward the 2011 record that gold would challenge by July.
For gold buyers in Iceland
April confirmed the new regime: with real yields negative, gold's lack of a coupon stopped being a disadvantage.
Related months to read
The 2020 gold market: COVID crash, recovery, and the all-time high above $2,000
March 2020 saw a brief gold sell-off during COVID liquidity panic (-12% in 2 weeks) before the metal rocketed to an all-time high of $2,075 in August. Year close: $1,898 — gold's best year since 2010.
Key drivers in 2020
COVID pandemic, unlimited Fed QE, fiscal stimulus, negative real rates, USD weakness
2020 XAU/USD high
$2,075 (Aug)
2020 XAU/USD low
$1,452 (Mar)
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 Iceland gold market
Iceland 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
ISK (kr)
Daily gold price — April 2020, Iceland
kr214,055
$1,683.17/oz
kr205,615
$1,616.80/oz
kr205,144
$1,613.10/oz
kr212,274
$1,669.16/oz
kr209,621
$1,648.30/oz
kr209,748
$1,649.30/oz
kr209,557
$1,647.80/oz
kr213,741
$1,680.70/oz
kr213,741
$1,680.70/oz
kr219,231
$1,723.87/oz
kr213,741
$1,680.70/oz
kr221,524
$1,741.90/oz
kr218,574
$1,718.70/oz
kr219,947
$1,729.50/oz
kr215,254
$1,692.60/oz
kr216,503
$1,702.42/oz
kr214,440
$1,686.20/oz
kr213,919
$1,682.10/oz
kr217,544
$1,710.60/oz
kr220,812
$1,736.30/oz
kr218,218
$1,715.90/oz
kr219,935
$1,729.41/oz
kr218,103
$1,715.00/oz
kr215,127
$1,691.60/oz
kr216,628
$1,703.40/oz
kr216,552
$1,702.80/oz
How Iceland 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 ISK/USD exchange rate comes from exchangerate-api.com's 2020 year-end snapshot.
Conversion. Every ISK figure on this page is computed as XAU/USD price × ISK/USD rate. We use the year-end exchange rate consistently across all April 2020 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 Iceland, add the country-specific levies described in the “Icelandgold market” section above.
FAQ — Iceland gold price in April 2020
What was the gold price in Iceland in April 2020?
In April 2020, gold in Iceland opened at kr214,055/oz and closed at kr216,552/oz — a move of +1.17% on the month. Per tola: ≈kr81,208; per gram: ≈kr6,962; per 10g: ≈kr69,623.
What was the 24K gold rate per tola in Iceland in April 2020?
The 24K gold rate per tola in Iceland at the April 2020 close was approximately kr81,208, derived from international XAU/USD spot of $1,702.80/oz times the 2020-end ISK/USD exchange rate of 127.1738. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Iceland in April 2020?
Iceland's most-quoted retail standard is 24K per gram. At the April 2020 close, that worked out to approximately kr6,955 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
ISK prices on this page are computed from the verified international XAU/USD spot price for April 2020 (sourced from gold-api.com), multiplied by the 2020-end ISK/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 kr figures here represent the international gold spot price converted to ISK at the 2020-end exchange rate. Iceland'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 Iceland? See live gold prices in Iceland with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2020 archive or the USD-only April 2020 page with the country-by-country list at the bottom.
Other markets? Compare April 2020 prices across other major gold-trading countries: Norway, Sweden, Denmark, Eurozone, United Kingdom, Canada.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to ISK at the 2020-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 Iceland before transacting.