Gold Prices in Israeli Shekels
As a general rule, gold is priced in US dollars. Though the close relationship that Israel and the US have means that many Israelis may be comfortable thinking in terms of dollars, it is better for Israeli gold investors to have the option to examine gold as it is priced in Israeli shekels.
This page is one way to do that. Our chart below features decades of historical closing prices for gold as calculated in ILS. Better yet, we update the daily bid, ask, high, and low prices for gold on a real-time basis so you never lose track of intraday trading.
So, if you’d prefer not to have to work with USD in your gold dealings, this page is a must-have. Welcome to the JM Bullion Gold Price Chart for Israeli shekels.
Why Monitor Gold in ILS?
There are a couple of great reasons to look at today’s gold price in Israeli shekels. For one thing, gold is expensive, but it may be easier to consider the expense in ILS because you have more everyday context with the currency.
However, the bigger reason is that trading gold in any currency other than US dollars inserts currency exchange rates into the equation. Fluctuations in the strength or weakness of the shekel against the dollar can mean price changes that do not reflect the actual valuation of gold, as follows:
- A stronger shekel means that investors have more purchasing power to buy gold. As a result, the price of gold is likely to increase because of higher demand.
- A weaker shekel makes gold more expensive for Israeli traders to buy. So, it may result in a lower gold price, as people don’t want to spend as much.
How to Use the Gold Price Chart
You can track gold’s price in shekels from today back to January 1, 1995. Choose one of the preset timeframes or enter a specific date range in the spaces below. You can also set the range using the sliders at the bottom of the chart.
Once you have your range, hover your cursor or finger over the specific data points to determine the closing price at a specific time. You can get down to specific days with smaller ranges, but a larger range may give weekly or monthly results. So, be aware that you may have to drill down if you need precision.
Gold Price in ILS vs USD
As we mentioned above, measuring the gold price in ILS rather than USD requires considering exchange rates and how they relate to the buying and selling of gold. However, exchange rates are not merely mathematical calculations.
Instead, they are also subject to the whims of their users’ perceptions. So, if people get the idea that the shekel is stronger or weaker than the dollar, it can result in the perception becoming true due to the way people change their behavior in response. Bear that in mind and keep an eye (as best as possible) on public sentiment about the Israeli shekel as you trade with it.
Related: Silver price in ILS
Notable Events that Caused the Price to Shift
The table below is a series of specific dates and closing prices that were significant because of their magnitude or the records they set. These events usually coincided with situations in Israel and the world at large, so we’ll try to contextualize why gold happened to close as it did on each selected date.
| Date | Closing price (ILS) | Notes |
|---|---|---|
| September 5, 2011 | ₪6,923.82 | Gold prices worldwide reach or approach all-time highs around this time. The spike was attributable to the ongoing European debt crisis and the aftereffects of the Great Recession. For Israel, this mark represented a near-₪4000 increase in the price of gold in less than 3 years |
| September 13, 2012 | ₪6,959.08 | The new all-time high for gold price in ILS was set almost exactly a year after the previous record. The causes were much the same, and gold had hovered just beneath ₪7,000 for the entire 12 months between. However, as nerves calmed worldwide, the price of gold would tumble for the rest of the decade, and sank as low as ₪4,125 in 2015. |
| August 6, 2020 | ₪7,045.19 | The first time in history that gold rose above ₪7,000 an ounce occurred as the world plunged headlong into the COVID-19 pandemic. This record would stand for almost 3 years until inflation fears and economic turmoil would push the price up again. |
| October 27, 2023 | ₪8,137.17 | This new all-time high capped off a week of trading with gold prices rising above ₪8,000. Sadly, this spike coincided with an event directly affecting Israel itself. The Hamas attacks of October 7 and nervousness about the imminent response from the Israeli government sent many investors in search of ways to safeguard their net worths. The spike was another unfortunate side effect of the beginnings of the ongoing war. |
| April 21, 2025 | ₪12,623.69 | The current record holder was the culmination of a dramatic rise in gold prices that began in July 2024. However, the activity in 2025 was nothing short of remarkable, as it had been possible to buy an ounce of gold for less than ₪9,300 as recently as December 2024. In four months, gold gained more than 36% in value due to ongoing tensions in the Middle East, a weakening US dollar, and the developing trade/tariff war between the US and, basically, every other country on the planet not named Israel. |
What Influences the Price of Gold?
The price of gold is a function of the supply of the precious metal against the demand for it. However, there are several different factors that may move the supply or demand for gold in one way or another. We’ll run through the different elements below, but understand beforehand that the situations we describe almost always cut both ways. If the situation is reversed, so too is the effect on the price of gold.
- Economic health – A healthy economy means investors prefer to stick with more traditional investments like stocks and bonds. Furthermore, they don’t mind letting things stand in the fiat currency of the land. In that case, demand for gold drops, and the price goes down.
- Geopolitical events – Wars of any kind are bad for business, and they usually create both fear about investment risks and actual, existential fear depending on where they occur. In these times of unease, investors seek out ways to protect and to mobilize their net worths, and they turn to gold to achieve that goal. With greater demand and no increase in supply (or even a shortening of it), the price of gold can only go in one direction – up.
- Interest rates – Higher interest rates whet investor appetites for certain financial instruments and vehicles. Buying bonds or treasury bills can be a way to take advantage of the higher returns in a rather low-risk environment. If investors are sticking with fiat currency investments, gold prices tend to fall.
- Inflation – Inflation almost always results in higher gold prices. For one thing, the mathematical dilution of a currency means that it takes more of it to buy the same amount of gold. Investors with major stakes in an inflating currency desperately seek ways to safeguard their nest eggs’ value against these pressures, and gold coins or bars are a great way to do so.
- Central banks – The primary banks of countries are the largest financial institutions in the world. When they decide to invest in gold, they can materially deplete the supply of gold available on the market and cause prices to rise. Additionally, investors who track the movements of central banks may also take the purchasing to be a good idea for their own portfolios, which can further squeeze the availability of gold products on the market and lead to higher prices.
- Mining practices – Unlike a stock or a bond, gold is an investment that must be physically extracted from the earth and refined for sale. So, there are some logistical concerns that can come into play with gold that can affect the supply, especially if they happen in a large producer of gold. On the one hand, labor disruptions, exhaustion of ore veins, or increasing mining costs can lead to shortages and higher prices. On the other, the discovery of new ore sources or development of more efficient techniques may put more gold on the market and cause prices to fall.
The Israeli Coins and Medals Corporation
The Israeli Coins and Medals Corporation was established in 1958 by Israeli Prime Minister Ben Gurion. The mint was established with the intention of producing products to commemorate events of historical significance to the State of Israel. The mint also produced products celebrating the nation’s achievements in the arts and sciences. The mint was wholly owned by the Government of Israel until 2008, at which time it was privatized.
The ICMC is involved in several different activities. The company is the only distributor of collector coins issued by the Bank of Israel. It is also responsible for production and issuance of state medals, and produced metals for other organizations as well. These medals are struck in various metals, including gold, silver, bronze and other base metals.
The company also sells Israeli art, and produces and sells fine gold and silver jewelry. ICMC also works with the Israeli Antiquities Authority to produce replicas and ancient artifacts that have been excavated in Israel.
ICMC has the ability to refine gold to 999.9 percent purity for investment and gift purposes. The Holy Land Mint produces various gold bars of varying weights and designs. A wide range of weights is available, from 1 gram gold bars to 1 kilo gold bars.
The mint also produces Israeli gold bullion coins. Coins are struck featuring various designs and are minted with 999.9 percent pure gold.
The Israeli economy is advanced and its citizens enjoy a standard of living comparable to Western European countries. Israel is heavily involved in technology, and also in diamond cutting and polishing.
Israel has a well-educated population that has allowed it to advance rapidly in the technology arena, and the nation has attracted significant amounts of foreign investment and venture capital.
Further growth in the Israeli economy could potentially fuel demand for gold. Gold has a long history and reputation as a reliable store of wealth and value and can potentially offer investors a further degree of portfolio diversification. These characteristics may make the yellow metal more attractive to both nation central banks and individual investors.
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| Date | Closing price (ILS) | Notes |
|---|---|---|
| September 5, 2011 | ₪6,923.82 | Gold prices worldwide reach or approach all-time highs around this time. The spike was attributable to the ongoing European debt crisis and the aftereffects of the Great Recession. For Israel, this mark represented a near-₪4000 increase in the price of gold in less than 3 years |
| September 13, 2012 | ₪6,959.08 | The new all-time high for gold price in ILS was set almost exactly a year after the previous record. The causes were much the same, and gold had hovered just beneath ₪7,000 for the entire 12 months between. However, as nerves calmed worldwide, the price of gold would tumble for the rest of the decade, and sank as low as ₪4,125 in 2015. |
| August 6, 2020 | ₪7,045.19 | The first time in history that gold rose above ₪7,000 an ounce occurred as the world plunged headlong into the COVID-19 pandemic. This record would stand for almost 3 years until inflation fears and economic turmoil would push the price up again. |
