Change in gold price from 1900 to 2019

This statistic displays the annual average gold price from 1900 to 2019, in U.S. dollars per troy ounce. In 2019, one troy ounce of gold had an annual average price of 1,392.60 U.S. dollars.

Gold market and industry

From 2012 to 2018, the annual average gold price dropped from 1,668.98 U.S. dollars per troy ounce to 1,268.49 U.S. dollars per troy ounce, with a slight rebound to approximately 1,400 U.S. dollars per troy ounce in 2019. The average price has grown significantly from the early 2000s with an annual average price of 279 U.S. dollars per troy ounce in 2001 up to the record high in 2012. Similarly, the costs of mining gold have risen considerably in recent years. In 2005, mining costs totaled 280 U.S. dollars per troy ounce and increased to 566 U.S. dollars per troy ounce in 2010. As of 2018, for example, Canadian company Barrick Gold reported an average realized gold price of 1,267 dollars per ounce.

Gold is a metal that is considered malleable, ductile and is known for its bright lustrous yellow color. This transition metal is highly valued as a precious metal for its use in coins, jewelry, and in investments. Gold was also once used as a standard for monetary policies between different countries. The price of gold is determined by daily fixings where participants agree to buy or sell at a set price or to maintain the price through supply and demand control. For gold, companies like Barclays Capital, Scotia-Mocatta, Sociétè Générale, HSBC, and Deutsche Bank are members in gold fixing at the London Bullion Market Association.

Annual average gold price from 1900 to 2019

Average gold price in U.S. dollars per troy ounce
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Source

Release date

January 2020

Region

Worldwide

Survey time period

1900 to 2019

Supplementary notes

All figures are annual averages of the PM fix.

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