Historical Gold Prices
Gold Prices
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Richard Wedge

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Gold PricesGold Prices - Gold prices interest people from all over the world as it can be a great investment. So we've done a site on a variety of aspects including:- current gold prices, live prices, gold coin prices and the spot price of gold.

A combination of political and economical factors have influenced historical gold prices over the years but recently the price of gold is much more stable and is determined primarily by market forces.

Gold has served as the most important monetary standard throughout history. It is measured in troy ounces and typically historical gold prices have been most universally stated in US Dollars (USD) per Ounce.The gold price is also measured in 'price per kilogram' and 'price per gram'. For example the jewelry industry usually is concerned with the price of gold in grams whereas investors usually watch the price per ounce. (Taken from goldprice.org)

Historical gold prices chart (Click to enlarge)
Historical gold prices chart

Historically, the United States has fixed the price of gold. The price of an ounce of gold was fixed at $20.67 for many decades until 1934 at which point the price was raised to $35.00. In 1968 a two-tiered pricing structure was established, and by 1975 the price of gold was allowed to fluctuate. In January of 1980 the price of gold reached its peak, and by the year 2000 the price dropped to $272. (Taken from wisegeek.com)

The most relevant links we could find, placed here free

Gold Price - Arcticle summarising historical gold prices rise and falls and contributing factors since 1800. www.goldprice.org

Wise Geek - Article which features historical gold prices chart showing the closing price of an ounce of gold on the New York Exchange for every five year period from 1800 to 2000. www.wisegeek.com

Gold Price - A wide range of gold history charts from 30 days to 30 years. www.goldprice.org

Wikipedia - Lots of information about factors that have influenced historical gold prices. en.wikipedia.org

In the last century gold prices were determined by a combination of political and economical factors. However in the past few years, oil prices, the weak US dollar, growth in demand for jewelry and the increase in demand for exchange-traded paper backed products have become equally significant contributors to the price of gold.

Federal reserve bank of new york (Click to enlarge)
Federal Reserve Bank of New York

Today, like all investments and commodities, gold prices are ultimately driven by supply and demand, including hoarding and dis-hoarding. Unlike most other commodities, the hoarding and dis-hoarding plays a much bigger role in affecting the price, since almost all the gold ever mined still exists and is potentially able to come on to the market at the right price.

Given the huge quantity of above ground hoarded gold, compared to the annual production, the price of gold is mainly affected by changes in sentiment, rather than changes in annual production. (Taken from wikipedia.org)

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