Oman · OMR · July 2020
Gold Price in Oman — July 2020
Oman gold price archive for July 2020 — historical OMR reference rates per tola, gram and ounce.
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 Oman
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 Oman gold market
Oman's retail gold market is concentrated in Muscat and quotes per gram in 21K (jewellery) and 24K (investment bars). Oman applies a 5% VAT regime introduced in 2021.
Standard quote unit
gram
Common purity
21K
Currency
OMR (ر.ع.)
Daily gold price — July 2020, Oman
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$1,846.51/oz
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$1,777.50/oz
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$1,772.90/oz
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$1,787.16/oz
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$1,787.90/oz
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$1,789.60/oz
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$1,811.10/oz
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$1,812.10/oz
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$1,803.10/oz
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$1,813.47/oz
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$1,807.50/oz
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$1,801.90/oz
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$1,804.60/oz
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$1,807.70/oz
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$1,807.40/oz
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$1,820.65/oz
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$1,815.70/oz
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$1,842.60/oz
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$1,852.40/oz
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$1,878.30/oz
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$1,902.10/oz
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$1,945.65/oz
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$1,936.70/oz
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$1,940.90/oz
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$1,950.90/oz
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$1,957.70/oz
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$1,964.90/oz
How Oman 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 OMR/USD exchange rate comes from exchangerate-api.com's 2020 year-end snapshot.
Conversion. Every OMR figure on this page is computed as XAU/USD price × OMR/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 Oman, add the country-specific levies described in the “Omangold market” section above.
FAQ — Oman gold price in July 2020
What was the gold price in Oman in July 2020?
Historical OMR gold price archive for Oman in July 2020.
What was the 24K gold rate per tola in Oman in July 2020?
Tola-based gold rate for Oman in July 2020 requires both XAU/USD and OMR/USD data which is unavailable for this period.
What was the 21K gold rate per gram in Oman in July 2020?
Retail rate calculation requires international XAU/USD spot and OMR/USD FX, both of which are missing for this period.
How was the local currency price calculated?
OMR 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 OMR/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 ر.ع. figures here represent the international gold spot price converted to OMR at the 2020-end exchange rate. Oman'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 Oman? See live gold prices in Oman 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: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, India.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to OMR 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 Oman before transacting.