Fascinating facts and interesting stories

History of the gold price

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
2013 1690.50 1192.00
2012 1791.75 1540.00
2011 1889.70 1331.50
2010 1421.10 1058.00
2009 1056.90 858.69
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

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All the gold ever mined still exists today

02/05/2010. Category: money. Tags: .

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