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Price of gold per troy ounce 1990-2018

Price of gold per troy ounce from 1990 to 2018 (in U.S. dollars)

by M. Szmigiera, last edited Jan 2, 2019
Price of gold per troy ounce 1990-2018 This statistic shows the fluctuation of the price of gold per troy ounce from 1990 to 2018. A troy ounce is the international common unit of weight used for precious metals and is approximately 31.3 grams. At the end of 2018, a troy ounce of gold cost 1,302.8279.2 Price of – additional information
In 2000 the price of gold was at its lowest since 1990 and that year a troy ounce of gold cost 274.5 U.S. dollars. Since then gold prices have been rising and after the economic crisis of 2008 the price of gold rose at higher rates than ever before as the market began to see gold as an increasingly good investment.

History has shown that time and time again, gold is seen as a good investment in times of uncertainty because it can or is thought to function as a good store of value against a declining currency as well as providing protection against inflation. However unlike other commodities, once gold is mined it does not get used up like other commodities such as gasoline for example, and while it may be a good investment at times, the supply demand argument does not apply to gold. However, the demand for gold has been rising nonetheless.
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Price of gold per troy ounce from 1990 to 2018 (in U.S. dollars)

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