Unrevealing Gold Price History & Historical Gold Data

Gold is recognized not just for its intrinsic beauty but also for its historical resilience. Over the past four decades, history of gold price have witnessed countless economic ups and downs. Various factors, including geopolitical events and economic shifts, influenced the value of gold over time.

Understanding gold prices history is essential for investors seeking smart gimmicks about the gold market. 

So, let’s jump in and explore the historical price of gold.

Historic Value of Gold

Gold was considered a valuable entity by ancient civilizations too. Gold was recognized as a wealthy asset even thousands of years ago.

We’ve summarized gold’s history from gold price evolution to its current significance.

Gold price history data has fascinating turns in the economic landscape. The Findgoldrate compiled the following gold historical data from gold prices over the last 50 years.

  • Gold price last 10 years
  • Gold price last 20 years
  • Gold price last 30 years
  • Gold price last 50 years
  • Gold price last 100 years

How to examine the purity of gold?

Gold price 50 years

The following table consists of more than the gold prices last 50 years.

YearAverage
Closing Price
Year OpenYear HighYear
Low
Year CloseAnnual
% Change
2023$1,941.47$1,824.16$2,115.10$1,811.27$2,054.9112.64%
2022$1,801.87$1,800.10$2,043.30$1,626.65$1,824.32-0.23%
2021$1,798.89$1,946.60$1,954.40$1,678.00$1,828.60-3.51%
2020$1,773.73$1,520.55$2,058.40$1,472.35$1,895.1024.43%
2019$1,393.34$1,287.20$1,542.60$1,270.05$1,523.0018.83%
2018$1,268.93$1,312.80$1,360.25$1,176.70$1,281.65-1.15%
2017$1,260.39$1,162.00$1,351.20$1,162.00$1,296.5012.57%
2016$1,251.92$1,075.20$1,372.60$1,073.60$1,151.708.63%
2015$1,158.86$1,184.25$1,298.00$1,049.60$1,060.20-11.59%
2014$1,266.06$1,219.75$1,379.00$1,144.50$1,199.25-0.19%
2013$1,409.51$1,681.50$1,692.50$1,192.75$1,201.50-27.79%
2012$1,668.86$1,590.00$1,790.00$1,537.50$1,664.005.68%
2011$1,573.16$1,405.50$1,896.50$1,316.00$1,574.5011.65%
2010$1,226.66$1,113.00$1,426.00$1,052.25$1,410.2527.74%
2009$973.66$869.75$1,218.25$813.00$1,104.0027.63%
2008$872.37$840.75$1,023.50$692.50$865.003.41%
2007$696.43$640.75$841.75$608.30$836.5031.59%
2006$604.34$520.75$725.75$520.75$635.7023.92%
2005$444.99$426.80$537.50$411.50$513.0017.12%
2004$409.53$415.20$455.75$373.50$438.004.97%
2003$363.83$342.20$417.25$319.75$417.2521.74%
2002$310.08$278.10$348.50$277.80$342.7523.96%
2001$271.19$272.80$292.85$256.70$276.501.41%
2000$279.29$282.05$316.60$263.80$272.65-6.26%
1999$278.86$288.25$326.25$252.90$290.851.18%
1998$294.12$287.70$314.60$273.40$287.45-0.61%
1997$331.00$367.80$367.80$283.05$289.20-21.74%
1996$387.73$387.10$416.25$368.30$369.55-4.43%
1995$384.07$381.40$396.95$372.45$386.701.10%
1994$384.16$395.00$397.50$370.25$382.50-2.09%
1993$360.05$329.40$406.70$326.50$390.6517.35%
1992$343.87$351.20$359.30$330.20$332.90-5.80%
1991$362.34$392.50$403.70$343.50$353.40-9.62%
1990$383.73$401.65$421.40$346.75$391.00-2.49%
1989$381.27$413.60$417.15$358.10$401.00-2.23%
1988$436.78$484.10$485.30$389.05$410.15-15.69%
1987$446.84$402.40$502.75$392.60$486.5024.46%
1986$368.20$327.10$442.75$326.00$390.9019.54%
1985$317.42$306.25$339.30$285.00$327.005.83%
1984$360.65$384.00$406.85$303.25$309.00-19.00%
1983$423.71$452.75$511.50$374.75$381.50-14.84%
1982$376.11$399.00$488.50$297.00$448.0012.00%
1981$459.16$592.00$599.25$391.75$400.00-32.15%
1980$614.75$559.00$843.00$474.00$589.5012.50%
1979$307.01$227.15$524.00$216.55$524.00133.41%
1978$193.57$168.60$243.65$166.30$224.5035.57%
1977$147.84$136.10$168.15$129.40$165.6023.08%
1976$124.80$140.35$140.35$103.05$134.55-4.06%
1975$160.87$185.00$186.25$128.75$140.25-25.20%
1974$158.76$114.75$197.50$114.75$187.5067.04%
1973$97.12$64.99$127.00$64.10$112.2573.49%
1972$58.17$43.73$70.00$43.73$64.7048.74%
1971$40.80$37.33$43.90$37.33$43.5016.37%
1970$35.96$35.13$39.19$34.78$37.386.16%
1969$41.10$41.80$43.75$35.00$35.21-16.07%

Gold price comparison and gold price chart

History of Gold Price

Over the past four decadesthe history of price of gold has gone through crazy adventures. It holds water, from ancient civilizations to modern financial systems. Some glimpses from the history of gold are:

Gold Prices in 1929 The Great Depression (Economic Crises)

In the 1930s, the world faced a challenging time known as the Great Depression, when the economies experienced a significant downturn. During this period, the value of gold went through both highs and lows.

On one hand, people considered gold as a safe-haven asset, to keep their money secure during uncertain times. Simultaneously, there were also challenges like deflation, which put pressure on historical gold prices.

Governments and central banks worked their fingers to the bone to control the economic disruption. In this financial storm, gold became a refuge for those who wanted to protect their wealth. Gold in 1929 was proven resilient and stable against the devaluation of money even though traditional forms of investment failed.

Gold Price History 1940-1960

World War 2 demolished the world’s economy. After the War, the countries learned their lesson and sat together for a solution. As a result, 44 nations signed an agreement called “the Bretton Woods.”

This pact hooks all currencies to the U.S. dollar and the U.S. dollar to the gold.

It brought relative stability to gold rate history, but it also sowed the seeds for future uncertainty. In the aftermath, the 1960s witnessed the economic pressures leading to the collapse of the Bretton Woods system by the 1970s.

Gold Price in 1970

In the 1970s, due to geopolitical tensions, inflation again hit the economy and oil prices shocks. In response, investors found gold a hedge against rising prices, which led gold prices since 1970 to the extreme.

Gold Price in 1980

In the 1980s, central banks implemented measures to control inflation. As a result, things started to settle down. With less flow of money in the market, the demand for gold decreased. A decline was observed in gold prices over time

Gold Price in 1990

The 1990s brought relative stability. The gold prices historically were in control. It was like finding a comfy seat on a train instead of hanging on for dear life on a rollercoaster.

The Gold Standard Era

In the 19th and early 20th centuries, gold standards were established, where the value of currencies was tied to a specific quantity of gold. In this era, the international economy stepped forward to stability as countries connected their financial systems to the Golden metal. However, the fixed nature of the gold standard also contributed to economic rigidity.

Tested & proven profitable gold investment strategies.

Gold price history in pakistan (2000-2021)

Gold prices since 2000 saw a dramatic rise throughout the period, increasing from around $279 per ounce in 2000 to roughly $1,523 per ounce by 2019. It represents a 443% massive increase!

Gold Price Historical Data

YearAverage Price/oz (USD)Change from Previous Year
Gold Price in 2000$279.23N/A
Gold Price in 2001$276.40-1.04%
Gold Price in 2002$307.3511.27%
Gold Price in 2003$340.7210.86%
Gold Price in 2004$405.3819.20%
Gold Price in 2005$455.4212.39%
Gold Price in 2006$635.1239.48%
Gold Price in 2007$846.0533.24%
Gold Price in 2008$890.175.24%
Gold Price in 2009$968.508.88%
Gold Price in 2010$1,349.4939.42%
Gold Price in 2011$1,795.5132.74%
Gold Price in 2012$1,660.83-7.62%
Gold Price in 2013$1,280.47-22.80%
Gold Price in 2014$1,297.101.31%
Gold Price in 2015$1,165.80-10.06%
Gold Price in 2016$1,258.577.99%
Gold Price in 2017$1,247.53-0.89%
Gold Price in 2018$1,201.62-3.71%
Gold Price in 2019$1,489.9423.99%
Gold Price in 2020$1,847.3324.10%
Gold Price in 2021$1,810.88-2.00%

Read: Gold vs inflation

Frequently Asked Questions

The highest gold spot price history is at $2051, peaking in December 2023. It represents the highest figure in gold historical data.

If we analyze gold price history, January, August, September, and December are considered good months for buying gold. Prices go in favor during these times so that you may have a good deal.

Most experts expect upward Gold price trends in the long term due to factors like economic uncertainty, weakening USD, and central bank activity. However, potential challenges like rising interest rates and technological substitutes could create temporary dips. Ultimately, gold value over time is likely to go up but watch out for bumps.

Historical gold data by State Bank of Pakistan.

Conclusion

In conclusion, The history of gold prices reflects the economic shifts and gold price evolutionGold historical prices are a timeless indicator of economic stability. Gold has always been proven a haven in times of economic uncertainty, and it is expected to be so in future, too.