You have to drill through 250 tons of rock, then pulverize and chemically treat it to get enough gold to cast a single wedding ring. No wonder gold is one of the most expensive – and most sought-after – precious metals. Gold is measured in troy ounces (1/12 of a pound, or 31.1035 grams) which is 1.1 times as heavy as the avoirdupois ounce (1/16 of a pound, or 28.3495 grams).

Year
US$ high
low

2009
1.056.90
858.69

2008
971.06
760.86

2007
808.31
630.35

2006
676.77
549.43

2005
509.42
424.08

2004
442.97
383.95

2003
407.67
328.21

2002
333.30
281.76

2001
283.32
260.75

2000
300.85
265.99

1990s
416.54
256.20

1980s
674.58*
299.83

1970s
463.67
34.95

1960s
43.46
35.06

1950s
35.13
34.73

1800s
20.67
19.39

*In January 1980, the gold price hit $850 amid international crisis
(the Islamic Revolution in Iran and the Soviet Union invading Afghanistan)
Source: Open Economics Gold Chart