Price Of Gold Per Ounce 10 Year Chart
Introduction
Gold has been a valuable commodity for centuries and has been used as a currency, jewelry, and an investment. The price of gold is affected by various factors such as supply and demand, global economic conditions, and geopolitical events. In this article, we will take a look at the price of gold per ounce 10 year chart and how it has fluctuated over time.
The Price of Gold in 2010
In 2010, the price of gold per ounce started at around $1,100 and reached an all-time high of $1,900 in September. The increase in the price of gold was due to the economic crisis in Europe and the United States, which led investors to seek safe-haven assets.
The Price of Gold in 2011
In 2011, the price of gold per ounce continued to rise and peaked at $1,920 in September. The global economic uncertainty and the debt crisis in Europe were the main drivers of the price increase. However, towards the end of the year, the price of gold started to decline as the economic conditions improved.
The Price of Gold in 2012
In 2012, the price of gold per ounce started at $1,600 and fluctuated between $1,500 to $1,800 throughout the year. The global economic conditions were still uncertain, but the demand for gold decreased as investors started to focus on other assets.
The Price of Gold in 2013
In 2013, the price of gold per ounce started to decline and reached a low of $1,200 in June. The improving economic conditions in the United States and Europe led investors to shift their focus from safe-haven assets to riskier assets such as stocks and real estate.
The Price of Gold in 2014
In 2014, the price of gold per ounce continued to decline and reached a low of $1,140 in November. The improving economic conditions and the strengthening of the US dollar were the main reasons for the decline in the price of gold.
The Price of Gold in 2015
In 2015, the price of gold per ounce started to rise again and reached a high of $1,300 in January. The uncertainty in the global economy and the slowdown in the Chinese economy were the main drivers of the price increase. However, the price of gold started to decline towards the end of the year as the economic conditions improved.
The Price of Gold in 2016
In 2016, the price of gold per ounce started to rise again and reached a high of $1,375 in July. The uncertainty surrounding the US presidential election and the Brexit vote in the UK were the main drivers of the price increase. However, the price of gold started to decline towards the end of the year as the economic conditions improved.
The Price of Gold in 2017
In 2017, the price of gold per ounce started to rise again and reached a high of $1,350 in September. The geopolitical tensions between the US and North Korea and the uncertainty surrounding the US tax reform were the main drivers of the price increase. However, the price of gold started to decline towards the end of the year as the economic conditions improved.
The Price of Gold in 2018
In 2018, the price of gold per ounce started to decline and reached a low of $1,175 in August. The strengthening of the US dollar and the improving economic conditions in the United States were the main reasons for the decline in the price of gold.
The Price of Gold in 2019
In 2019, the price of gold per ounce started to rise again and reached a high of $1,550 in September. The uncertainty surrounding the US-China trade war and the geopolitical tensions in the Middle East were the main drivers of the price increase.
The Price of Gold in 2020
In 2020, the price of gold per ounce reached an all-time high of $2,067 in August. The global economic uncertainty caused by the COVID-19 pandemic and the low-interest rates were the main drivers of the price increase. However, towards the end of the year, the price of gold started to decline as the economic conditions improved.
Conclusion
The price of gold per ounce has fluctuated over the past 10 years due to various factors such as global economic conditions, geopolitical events, and supply and demand. Investors often turn to gold as a safe-haven asset during times of economic uncertainty. However, the price of gold can also be affected by the strength of the US dollar and the performance of other asset classes. It is important to keep an eye on the price of gold when making investment decisions.
