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On this day — July 20, 2025
Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.
Day 201 of 365 · Q3 2025 · 55.1% through the year
July 2025 gold market: Asian physical demand underpins the rally
BullishResilient Asian physical demand underpinned the trend.
Gold stayed strong through July, supported by resilient physical demand from Asia. China and India — the world's two largest gold consumers — continued to anchor global demand, while reserve diversification and firm investor confidence kept the bull market on track.
What drove gold in July 2025
- strong physical demand from China and India
- reserve diversification
- investor confidence
- steady ETF demand
What happened next
Renewed safe-haven and ETF flows drove gold to fresh highs in August.
For gold buyers
July highlighted gold's dual engine in 2025 — Western ETF money and Eastern physical demand pulling together.
Jul 20 across the years — 2020 → 2022
| Year | Jul 20 close | vs prior | |
|---|---|---|---|
| Jul 20, 2022 | $1,709.30 | -6.24% | View |
| Jul 20, 2021 | $1,823.10 | +0.41% | View |
| Jul 20, 2020 | $1,815.70 | — | View |