Mozambique · MZN · August 2020
Gold Price in Mozambique — August 2020
Mozambique gold price archive for August 2020 — historical MZN reference rates per tola, gram and ounce.
August 2020 gold market: All-time high near $2,075 — then a sharp reversal
VolatileA record high followed by one of the year's sharpest drops.
Gold made history on August 7, hitting an all-time high around $2,075 per ounce. The euphoria was short-lived: a rebound in real yields and a firmer dollar triggered a swift correction back toward $1,930. August marked the peak of gold's COVID-era bull run.
August's top had all the hallmarks of a blow-off: a near-vertical final push, breathless media coverage, and record speculative positioning. The trigger for the reversal was subtle but decisive — a bounce in real (inflation-adjusted) yields off their lows. Because gold's entire 2020 case rested on collapsing real yields, even a modest rebound was enough to knock the metal down over $100 in days. The $2,075 high would then cap gold for more than three years, not broken decisively until 2024.
What drove gold in August 2020
- record-low real yields driving the blow-off top
- subsequent rebound in real yields
- firmer US dollar
- profit-taking after a parabolic move
Key events in August 2020
- Aug 7Gold sets an all-time high near $2,075/oz
- Aug 11Sharpest one-day drop in years as yields rebound
What happened next
The $2,075 peak became a multi-year ceiling that gold did not decisively break until 2024.
For gold buyers in Mozambique
August was a textbook blow-off: the record high near $2,075 became a ceiling that capped gold for years, punishing top-buyers.
Key terms this month
- Blow-off top:
- A steep, climactic price surge that quickly reverses as buying exhausts itself.
- All-time high:
- The highest price an asset has ever reached; gold's stood near $2,075 from August 2020 until 2024.
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 Mozambique gold market
Mozambique 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
MZN (MT)
Daily gold price — August 2020, Mozambique
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$1,968.63/oz
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$1,986.77/oz
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$1,958.60/oz
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$1,977.90/oz
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$2,048.20/oz
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$2,067.20/oz
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$2,031.20/oz
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$2,049.92/oz
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$2,044.50/oz
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$1,939.70/oz
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$1,931.90/oz
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$1,944.30/oz
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$1,944.80/oz
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$1,991.09/oz
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$1,972.90/oz
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$2,008.80/oz
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$1,981.00/oz
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$1,927.20/oz
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$1,924.40/oz
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$1,961.89/oz
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$1,944.00/oz
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$1,911.20/oz
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$1,933.00/oz
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$1,923.90/oz
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$1,957.40/oz
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$1,976.78/oz
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$1,957.40/oz
How Mozambique 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 MZN/USD exchange rate comes from exchangerate-api.com's 2020 year-end snapshot.
Conversion. Every MZN figure on this page is computed as XAU/USD price × MZN/USD rate. We use the year-end exchange rate consistently across all August 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 Mozambique, add the country-specific levies described in the “Mozambiquegold market” section above.
FAQ — Mozambique gold price in August 2020
What was the gold price in Mozambique in August 2020?
Historical MZN gold price archive for Mozambique in August 2020.
What was the 24K gold rate per tola in Mozambique in August 2020?
Tola-based gold rate for Mozambique in August 2020 requires both XAU/USD and MZN/USD data which is unavailable for this period.
What was the 24K gold rate per gram in Mozambique in August 2020?
Retail rate calculation requires international XAU/USD spot and MZN/USD FX, both of which are missing for this period.
How was the local currency price calculated?
MZN prices on this page are computed from the verified international XAU/USD spot price for August 2020 (sourced from gold-api.com), multiplied by the 2020-end MZN/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 MT figures here represent the international gold spot price converted to MZN at the 2020-end exchange rate. Mozambique'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.
What was the highest gold price in 2020?
Gold reached an all-time high of approximately $2,075 per troy ounce on August 7, 2020, before correcting sharply later in the month.
Want today's rate in Mozambique? See live gold prices in Mozambique 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 August 2020 page with the country-by-country list at the bottom.
Other markets? Compare August 2020 prices across other major gold-trading countries: Tanzania, South Africa, Zambia, Kenya, Nigeria.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to MZN 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 Mozambique before transacting.