Malaysia · MYR · July 2020
Gold Price in Malaysia — July 2020
In July 2020, the gold price in Malaysia closed at approximately RM7,912 per troy ounce, equivalent to RM2,967 per tola or RM254 per gram. This represents a +6.41% change on the month (RM7,435 open → RM7,912 close).
Open
RM7,435
per troy ounce
Close
RM7,912
per troy ounce
High
RM7,912
per troy ounce
Low
RM7,139
per troy ounce
All unit prices at July 2020 close — Malaysia
| Unit | Weight | Closing MYR price |
|---|---|---|
| Troy ounce | 31.1035 g | RM7,912 |
| Gram | 1.0000 g | RM254 |
| 10 grams | 10 g | RM2,544 |
| Kilogram | 1,000 g | RM254,366 |
| Tola | 11.664 g | RM2,967 |
Karat-purity breakdown at July 2020 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KMALAYSIA STD | RM254 | RM2,964 |
| 22K | RM233 | RM2,718 |
| 21K | RM223 | RM2,596 |
| 18K | RM191 | RM2,225 |
| 14K | RM149 | RM1,736 |
| 10K | RM106 | RM1,237 |
Daily gold price in MYR — July 2020
July 2020 gold market: Gold smashes through $1,900 toward records
BullishA momentum surge to the doorstep of all-time highs.
July was explosive. Gold broke above $1,800 early and accelerated to challenge its 2011 record near $1,920 by month-end, driven by a sliding dollar, deeply negative real yields, and rising US–China tensions. It was gold's strongest month of an extraordinary year.
What drove gold in July 2020
- US dollar sliding to two-year lows
- real yields deeply negative
- US–China tensions escalating
- momentum and ETF buying
Key events in July 2020
- Jul 24Gold clears $1,900 as the dollar tumbles
- Jul 27Gold nears its 2011 record high around $1,920
What happened next
The July momentum carried straight into August's record-setting blow-off top.
For gold buyers in Malaysia
By late July the trade had become crowded; buyers chasing the breakout above $1,900 were entering right before the August blow-off top.
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 Malaysia gold market
Malaysia's retail gold market quotes per gram and is concentrated in Kuala Lumpur, Penang and Johor Bahru. Public Gold and Public Bank both offer accumulation accounts that have grown in popularity. The country exempts investment-grade gold from SST (Sales and Service Tax).
Standard quote unit
gram
Common purity
24K
Currency
MYR (RM)
Daily gold price — July 2020, Malaysia
RM7,435
$1,846.51/oz
RM7,157
$1,777.50/oz
RM7,139
$1,772.90/oz
RM7,196
$1,787.16/oz
RM7,199
$1,787.90/oz
RM7,206
$1,789.60/oz
RM7,292
$1,811.10/oz
RM7,296
$1,812.10/oz
RM7,260
$1,803.10/oz
RM7,302
$1,813.47/oz
RM7,278
$1,807.50/oz
RM7,255
$1,801.90/oz
RM7,266
$1,804.60/oz
RM7,279
$1,807.70/oz
RM7,277
$1,807.40/oz
RM7,331
$1,820.65/oz
RM7,311
$1,815.70/oz
RM7,419
$1,842.60/oz
RM7,459
$1,852.40/oz
RM7,563
$1,878.30/oz
RM7,659
$1,902.10/oz
RM7,834
$1,945.65/oz
RM7,798
$1,936.70/oz
RM7,815
$1,940.90/oz
RM7,855
$1,950.90/oz
RM7,883
$1,957.70/oz
RM7,912
$1,964.90/oz
How Malaysia 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 MYR/USD exchange rate comes from exchangerate-api.com's 2020 year-end snapshot.
Conversion. Every MYR figure on this page is computed as XAU/USD price × MYR/USD rate. We use the year-end exchange rate consistently across all July 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 Malaysia, add the country-specific levies described in the “Malaysiagold market” section above.
FAQ — Malaysia gold price in July 2020
What was the gold price in Malaysia in July 2020?
In July 2020, gold in Malaysia opened at RM7,435/oz and closed at RM7,912/oz — a move of +6.41% on the month. Per tola: ≈RM2,967; per gram: ≈RM254; per 10g: ≈RM2,544.
What was the 24K gold rate per tola in Malaysia in July 2020?
The 24K gold rate per tola in Malaysia at the July 2020 close was approximately RM2,967, derived from international XAU/USD spot of $1,964.90/oz times the 2020-end MYR/USD exchange rate of 4.0265. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Malaysia in July 2020?
Malaysia's most-quoted retail standard is 24K per gram. At the July 2020 close, that worked out to approximately RM254 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
MYR prices on this page are computed from the verified international XAU/USD spot price for July 2020 (sourced from gold-api.com), multiplied by the 2020-end MYR/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 RM figures here represent the international gold spot price converted to MYR at the 2020-end exchange rate. Malaysia'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 Malaysia? See live gold prices in Malaysia 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 July 2020 page with the country-by-country list at the bottom.
Other markets? Compare July 2020 prices across other major gold-trading countries: Indonesia, Singapore, Thailand, Philippines, Vietnam, Brunei.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to MYR 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 Malaysia before transacting.