Welcome to Mina Sky Jewellery’s gold market update for Wednesday July 15. We are happy to share that gold remains at some of the most attractive prices of the year, trading near $4,040 per ounce today. The price is being held steady by two opposing forces — cooling inflation and the ongoing Middle East conflict — which together have kept gold in a narrow range near the year’s lows. For anyone looking to buy beautiful gold jewellery, this is a lovely moment. Here is our friendly guide to what is happening.
Today’s prices:
24K: ~$130.65/gram | 22K: ~$119.75/gram | 21K: ~$114.25/gram | 18K: ~$97.98/gram
What’s happening with prices? Two things are pulling in opposite directions:
Good news: US inflation is cooling. In June, inflation fell to 3.5% from 4.2%, and prices dropped for the first time in a month since 2020. This is positive for gold and helped lift it more than 1% on Tuesday.
The counter-force: The war between the US and Iran has escalated, pushing oil prices up 9% in five days. This keeps some pressure on gold and has limited its gains.
The result: gold is holding steady near the year’s lowest prices — which is good news if you are looking to buy.
What this means for you: Gold is roughly 27% below its January record high. A 50-gram gold necklace costs approximately $2,493 less than it would have at that peak. Whether you are shopping for a wedding, an engagement, a gift, or simply a beautiful piece to treasure, this is a wonderful time to find excellent value.
Our friendly guidance:
For weddings, engagements, and gifts: prices are near the year’s lows — a lovely time to buy.
For those building a collection: quality gold jewellery holds its value beautifully over time. Buying at these prices means better value on every piece.
For long-term savers: it is worth knowing that the world’s central banks are buying gold heavily right now — China’s central bank bought at its fastest pace in over two and a half years in June. The world’s most careful institutions see value at these levels.
A note of balance: The market is moving quickly this week with several economic reports and the ongoing conflict, so prices could shift. Please confirm the live price with us before purchasing.
Gold near $4,040 is still 21.3% higher than it was a year ago — a reminder of gold’s lasting beauty and value. Mina Sky Jewellery is delighted to welcome you and help you find something truly special at a wonderful price.
Today’s prices: 24K — $130.65/gram | 22K — $119.75/gram | 21K — $114.25/gram
All prices USD. Indicative only. Volatile market. Please confirm final pricing in store.
