Gold price

Internationalab 9 J.

The price of one troy ounce of gold (~31 g): an all-time high above $2,400 in 2024/25. Rises in times of crisis, falls when interest rates rise. Long term: about 3–5% return a year.

The gold price is quoted in US dollars per troy ounce (31.1 grams) and fluctuates constantly.

Gold price development:

• 2000: approx. $270 (low after the dotcom crash)
• 2011: approx. $1,900 (euro debt crisis)
• 2020: approx. $2,070 (coronavirus pandemic)
• 2024: over $2,400 (all-time high! Geopolitical uncertainty, central bank buying)

What influences the gold price:

• Crises & uncertainty: gold rises when fear prevails ("safe haven")
• Inflation: gold is seen as protection against inflation
• Interest rates: rising rates → gold less attractive (gold pays no interest)
• US dollar: weak dollar → gold rises (priced in dollars)
• Central bank purchases: China, India, Turkey are buying gold massively

Long-term return: approx. 3–5% per year – less than shares (7–9%), but more than inflation (2–3%). Gold preserves purchasing power but hardly increases it.

Did you know? All the gold ever mined (~210,000 tonnes) would fit into a cube with 22-metre sides. It would fit under the Eiffel Tower – and is worth more than $13 trillion.

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