Summary
- • The highest price of gold was recorded at $1,895.00 on September 5, 2011.
- • The lowest price of gold in the last 20 years was $252.90 on June 21, 1999.
- • Gold price hit a record high of $2,064.88 on August 6, 2020.
- • The average gold price in 2020 was $1,768 per ounce.
- • Global gold production reached 3,531 metric tons in 2019.
- • Gold demand in the jewelry sector was 2,107.8 metric tons in 2020.
- • Central banks purchased 273 metric tons of gold in 2020.
- • The daily gold price volatility was 1.2% in 2020.
- • Gold futures trading volume in COMEX reached 6.47 million contracts in 2020.
- • China is the largest gold producer, with an output of 380 metric tons in 2020.
- • The average annual gold price was $1,688 per ounce in 2019.
- • Gold ETFs saw net inflows of 877 metric tons in 2020.
- • The United States holds the largest official gold reserves of 8,133.5 tons.
- • India is the largest consumer of gold jewelry, accounting for 618 metric tons in 2020.
- • Inflation-adjusted gold price reached $2,722 per ounce in 1980.
Gold prices: From record-breaking highs to historic lows, this precious metal has had a rollercoaster ride that even the most thrilling theme park would envy. Just imagine, from a peak of $2,064.88 in 2020 to a low of $252.90 in 1999, its clear that gold knows how to keep investors on their toes. With global production, demand, and trading volumes soaring, it seems like the gold rush is far from over. So, grab your shovel and lets dig into the glittering world of gold!
1 Gold Price Performance
- The average annual gold price was $1,688 per ounce in 2019.
- Inflation-adjusted gold price reached $2,722 per ounce in 1980.
- Gold prices surged by 32% in 2019, marking the biggest annual gain since 2010.
- Gold prices hit a seven-year high of $1,747.21 on March 14, 2020.
- Average gold prices in 2020 were 24% higher than in 2019.
- Gold prices saw a 19% increase during the Covid-19 pandemic in 2020.
Interpretation
In the unpredictable world of finance, gold continues to glitter brightly as a safe haven asset. From the rollercoaster ride of $2,722 per ounce in 1980 to the recent surge of 32% in 2019, gold prices have had their fair share of ups and downs. But amidst the chaos of 2020, gold stood strong, reaching a seven-year high and witnessing a remarkable 24% increase from the previous year. Like a timeless classic, gold proves its worth, shining even in the darkest of economic storms.
2 Gold Production and Demand
- Global gold production reached 3,531 metric tons in 2019.
- Gold demand in the jewelry sector was 2,107.8 metric tons in 2020.
- Global gold recycling supplied 1,296 metric tons of gold in 2020.
- Gold coin sales increased by 258% in the first half of 2020 compared to the same period in 2019.
Interpretation
The world of gold is truly a glittering paradox - as global gold production continues to soar, it seems we just can't get enough of this shiny metal. With consumers clamoring for gold jewelry, recycling efforts valiantly trying to keep up, and gold coin sales skyrocketing, one thing is clear: in the midst of uncertainty, humanity's love affair with gold remains steadfast, proving that even in tumultuous times, there is comfort in the enduring allure of this precious commodity.
3 Central Banks and Gold Reserves
- Central banks purchased 273 metric tons of gold in 2020.
- The United States holds the largest official gold reserves of 8,133.5 tons.
- Total gold reserves held by all central banks stand at approximately 35,211 metric tons.
Interpretation
In a year filled with turmoil and uncertainty, central banks around the world turned to the ultimate timeless asset: gold. With a staggering 273 metric tons acquired in 2020, it seems like even the most powerful institutions are seeking comfort in the glittering embrace of this precious metal. In the game of global financial stability, the United States reigns supreme with its hefty 8,133.5 tons of gold, perhaps serving as a not-so-subtle reminder to other nations that when it comes to reserves, size does matter. As central banks collectively clutch a whopping 35,211 metric tons of this eternal symbol of wealth, one thing is clear: when everything else seems shaky, gold will always shine through.
4 Gold Trading and Market Trends
- The highest price of gold was recorded at $1,895.00 on September 5, 2011.
- The lowest price of gold in the last 20 years was $252.90 on June 21, 1999.
- Gold price hit a record high of $2,064.88 on August 6, 2020.
- The average gold price in 2020 was $1,768 per ounce.
- The daily gold price volatility was 1.2% in 2020.
- Gold futures trading volume in COMEX reached 6.47 million contracts in 2020.
- Gold ETFs saw net inflows of 877 metric tons in 2020.
- The gold-to-silver ratio hit a historic high of 125 in March 2020.
- Gold trading volume on the Shanghai Gold Exchange averaged 15.85 million contracts per day in 2020.
- The largest gold coin ever minted weighed 2,231 pounds (1 ton) and had a face value of $1 million.
- The London Gold Fixing price reached $1,339.00 on June 6, 2018.
- In 2020, the annual range of gold prices was $1,474-$2,064 per ounce.
- The average gold price in Q1 2021 was $1,793 per ounce.
- Gold prices experienced a 12% drop in March 2021, the biggest monthly loss since November 2016.
- The gold spot price closed at $1,809.10 on May 28, 2021.
- Gold prices hit a six-week high of $1,830 per ounce on June 1, 2021.
- The gold-to-platinum ratio stood at 1.11 on July 6, 2021.
- The gold futures market saw a record trading volume of 29.61 million contracts in 2020.
- Gold prices in July 2021 reached a high of $1,830.60.
- Gold prices hit an all-time high of $1,921 per ounce on September 5, 2011.
- The gold price-to-earnings ratio (PE ratio) is currently at 21.15.
- Gold prices in euros hit a new record high of €1,600 per ounce on August 6, 2020.
- Gold prices hit an intraday high of $1,838.45 on August 6, 2020.
Interpretation
Gold prices have certainly had their highs and lows, much like a rollercoaster ride at an amusement park for financial thrill-seekers. From hitting record-breaking highs in 2020 to experiencing a stomach-churning 12% drop in March 2021, gold has kept investors on their toes. With gold ETFs witnessing inflows that would make even Croesus blush and the gold-to-silver ratio reaching a sky-high 125, it's clear that the shiny metal continues to captivate markets. Whether you're trading on the Shanghai Gold Exchange or marveling at a 1-ton gold coin with a modest $1 million face value, one thing's for sure - gold's glittering allure is truly timeless.
5 Regional and Currency-specific Gold Prices
- The gold price per gram in the UK was £39.25 on June 24, 2021.
- Gold prices in Indian rupees reached a record high of ₹56,000 per 10 grams in August 2020.
Interpretation
The gold market is certainly giving investors a rollercoaster ride, with the price per gram resembling a high-stakes game of limbo. As Brits were forking out £39.25 for a single glittering gram in June 2021, our friends in India were shelling out a princely sum of ₹56,000 for just 10 grams back in August 2020. It seems that whether you're tallying your worth in pounds or rupees, gold continues to hold its allure – regardless of the weight on your wallet.
Gold Production and Demand
- China is the largest gold producer, with an output of 380 metric tons in 2020.
- India is the largest consumer of gold jewelry, accounting for 618 metric tons in 2020.
Interpretation
In the glittering world of gold, China shines as the production powerhouse, churning out a whopping 380 metric tons in 2020, while India takes center stage as the ultimate consumer, indulging in 618 metric tons of gold jewelry. It seems the age-old love affair between supply and demand has never been more dazzling – China keeping the world adorned, and India proudly wearing the crown as the true jewelry aficionado.
