Historical price (2024)

Transitioning to 2000: no computer bug in sight, and still no failure of the Mir station. On the other hand, the price of gold will rise dramatically in 20 years: between 2000 and 2020, the price of gold would have risen by 400%. And this gold rush is nothing but a consequence of the economic, financial and health crises that have marked the 21st century.

Apart from the rebound in 2001 to $1,899 per ounce, the price of gold followed a very slight upward trend, almost stagnant, until 2005. From 2006 to 2012, the upward trend continued: in 6 years, an ounce of gold climbed from $555 to more than $1,600.

The first major spike occurred in February 2008, when the ounce of gold peaked at over USD 900. In euro terms, the peak came a little later, in January 2009, with an ounce of gold at EUR 700. This is certainly a consequence of the mortgage crisis, but not the only one. In fact, the European debt crisis is of great concern to investors, who are taking refuge in gold (normal for a safe haven). In 2011, gold broke its second record with a price that jumped to $1,922. In 2012, with the speculation of the end of the world, the price of gold peaked at 1,837 dollars an ounce. And here we go again for a new 6-year cycle: between 2012 and 2018, the price of gold corrects and stagnates, but still fluctuates around 1,000 dollars an ounce.

In 2018, the price of gold rises again and reaches 1,300 dollars an ounce in January. However, it was the Covid-19 pandemic that marked a new record period for the price of gold: in April 2020, the price reached USD 1,686 per ounce. The curve remains below the 2011 level, but not for long. In July 2020, the price of the yellow metal breaks through the USD 2,000 per ounce barrier. The following year will be a real contrast: with no underlying trend, 2021 is a year of pause for the gold price. Another way of affirming gold’s status as a safe haven!