Iceland · ISK · July 2021
Gold Price in Iceland — July 2021
In July 2021, the gold price in Iceland closed at approximately kr237,800 per troy ounce, equivalent to kr89,176 per tola or kr7,645 per gram. This represents a +0.99% change on the month (kr235,461 open → kr237,800 close).
Open
kr235,461
per troy ounce
Close
kr237,800
per troy ounce
High
kr238,256
per troy ounce
Low
kr232,642
per troy ounce
All unit prices at July 2021 close — Iceland
| Unit | Weight | Closing ISK price |
|---|---|---|
| Troy ounce | 31.1035 g | kr237,800 |
| Gram | 1.0000 g | kr7,645 |
| 10 grams | 10 g | kr76,454 |
| Kilogram | 1,000 g | kr7,645,442 |
| Tola | 11.664 g | kr89,176 |
Karat-purity breakdown at July 2021 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KICELAND STD | kr7,638 | kr89,087 |
| 22K | kr7,003 | kr81,686 |
| 21K | kr6,690 | kr78,029 |
| 18K | kr5,734 | kr66,882 |
| 14K | kr4,473 | kr52,168 |
| 10K | kr3,188 | kr37,187 |
Daily gold price in ISK — July 2021
July 2021 gold market: Range-trading as Delta worries build
Range-boundDelta-driven lower yields offset the Fed's hawkish tilt.
Gold steadied in the $1,800–$1,830 range in July as the spread of the COVID Delta variant pulled bond yields back down, offsetting the Fed's hawkish lean. The metal lacked a clear catalyst in either direction.
What drove gold in July 2021
- Delta variant slowing the yield rise
- Fed taper debate
- balanced dollar
- thin summer liquidity
Key events in July 2021
- Jul 29Gold holds near $1,830 as growth worries cap yields
What happened next
The calm shattered in early August with a sudden flash crash.
For gold buyers in Iceland
July was a waiting game — a tug-of-war between Delta-driven lower yields and a hawkish Fed left gold going nowhere.
The 2021 gold market: Consolidation below 2020 highs
Gold traded mostly sideways in 2021 between $1,680 and $1,950 as the Fed signaled coming tightening. Cryptocurrency mania peaked in November. Inflation began running above target. Year close: $1,829.
Key drivers in 2021
Crypto-boom drawing capital, Fed taper announcement, inflation rising, equity rally
2021 XAU/USD high
$1,945 (Jun)
2021 XAU/USD low
$1,676 (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 — July 2021, Iceland
kr235,461
$1,807.84/oz
kr232,642
$1,786.20/oz
kr233,755
$1,794.75/oz
kr233,320
$1,791.40/oz
kr235,729
$1,809.90/oz
kr235,052
$1,804.70/oz
kr235,443
$1,807.70/oz
kr235,221
$1,806.00/oz
kr235,867
$1,810.96/oz
kr233,450
$1,792.40/oz
kr236,250
$1,813.90/oz
kr237,461
$1,823.20/oz
kr237,540
$1,823.80/oz
kr237,605
$1,824.30/oz
kr236,709
$1,817.42/oz
kr236,380
$1,814.90/oz
kr237,448
$1,823.10/oz
kr234,726
$1,802.20/oz
kr234,375
$1,799.50/oz
kr234,388
$1,799.60/oz
kr235,951
$1,811.61/oz
kr234,466
$1,800.20/oz
kr234,492
$1,800.40/oz
kr233,997
$1,796.60/oz
kr238,256
$1,829.30/oz
kr237,800
$1,825.80/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 2021 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 July 2021 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 July 2021
What was the gold price in Iceland in July 2021?
In July 2021, gold in Iceland opened at kr235,461/oz and closed at kr237,800/oz — a move of +0.99% on the month. Per tola: ≈kr89,176; per gram: ≈kr7,645; per 10g: ≈kr76,454.
What was the 24K gold rate per tola in Iceland in July 2021?
The 24K gold rate per tola in Iceland at the July 2021 close was approximately kr89,176, derived from international XAU/USD spot of $1,825.80/oz times the 2021-end ISK/USD exchange rate of 130.2443. 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 July 2021?
Iceland's most-quoted retail standard is 24K per gram. At the July 2021 close, that worked out to approximately kr7,638 (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 July 2021 (sourced from gold-api.com), multiplied by the 2021-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 2021-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 2021 archive or the USD-only July 2021 page with the country-by-country list at the bottom.
Other markets? Compare July 2021 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 2021-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.