Gold Price in 2022 was 1,800.60 dollars per dmtu estimated by the world bank. In the previous year, 2021 Gold Price was 1,799.63 dollars per dmtu. The net change in Gold Price in 2022 was 0.97 dollars which is about a 0.05 % increase in price.
Gold's Price in International Commodity Markets in October 2023 is about 1,916.25 dollars per troy oz estimated by World Bank. In the Previous Month, September 2023 gold worth was 1,915.95 dollars per troy oz. Last year in October 2022 the price was 1,664.45 dollars per troy oz.
| Index | Last 12 Months | Nominal US $($/troy oz) | Net-Chg | Percentage-Chg |
|---|---|---|---|---|
| 13 | October 2022 | $ 1,664.45 | - | - |
| 12 | November 2022 | $ 1,725.07 | $ 60.62 | 3.51 % |
| 11 | December 2022 | $ 1,797.55 | $ 72.48 | 4.03 % |
| 10 | January 2023 | $ 1,897.71 | $ 100.16 | 5.28 % |
| 9 | February 2023 | $ 1,854.54 | $ -43.17 | -2.33 % |
| 8 | March 2023 | $ 1,912.73 | $ 58.19 | 3.04 % |
| 7 | April 2023 | $ 1,999.77 | $ 87.04 | 4.35 % |
| 6 | May 2023 | $ 1,992.13 | $ -7.64 | -0.38 % |
| 5 | June 2023 | $ 1,942.90 | $ -49.23 | -2.53 % |
| 4 | July 2023 | $ 1,951.02 | $ 8.12 | 0.42 % |
| 3 | August 2023 | $ 1,918.70 | $ -32.32 | -1.68 % |
| 2 | September 2023 | $ 1,915.95 | $ -2.75 | -0.14 % |
| 1 | October 2023 | $ 1,916.25 | $ 0.30 | 0.02 % |
Gold Price in 2022 was 1,800.60 dollars per dmtu estimated by the world bank. In the previous year, 2021 Gold Price was 1,799.63 dollars per dmtu. The net change in Gold Price in 2022 was 0.97 dollars which is about a 0.05 % increase in price.
| Year | Price Nominal US Dollars($/troy oz) | Net-Change | Percentage-Change |
|---|---|---|---|
| 1960 | $ 35.27 | - | - |
| 1961 | $ 35.25 | $ -0.02 | -0.06 % |
| 1962 | $ 35.23 | $ -0.02 | -0.06 % |
| 1963 | $ 35.09 | $ -0.14 | -0.40 % |
| 1964 | $ 35.10 | $ 0.01 | 0.03 % |
| 1965 | $ 35.12 | $ 0.02 | 0.06 % |
| 1966 | $ 35.13 | $ 0.01 | 0.03 % |
| 1967 | $ 34.95 | $ -0.18 | -0.52 % |
| 1968 | $ 38.93 | $ 3.98 | 10.22 % |
| 1969 | $ 41.08 | $ 2.15 | 5.23 % |
| 1970 | $ 35.94 | $ -5.14 | -14.30 % |
| 1971 | $ 40.80 | $ 4.86 | 11.91 % |
| 1972 | $ 58.16 | $ 17.36 | 29.85 % |
| 1973 | $ 97.33 | $ 39.17 | 40.24 % |
| 1974 | $ 159.25 | $ 61.92 | 38.88 % |
| 1975 | $ 161.03 | $ 1.78 | 1.11 % |
| 1976 | $ 124.82 | $ -36.21 | -29.01 % |
| 1977 | $ 147.72 | $ 22.90 | 15.50 % |
| 1978 | $ 193.24 | $ 45.52 | 23.56 % |
| 1979 | $ 306.67 | $ 113.43 | 36.99 % |
| 1980 | $ 607.86 | $ 301.19 | 49.55 % |
| 1981 | $ 459.75 | $ -148.11 | -32.22 % |
| 1982 | $ 375.80 | $ -83.95 | -22.34 % |
| 1983 | $ 422.53 | $ 46.73 | 11.06 % |
| 1984 | $ 360.48 | $ -62.05 | -17.21 % |
| 1985 | $ 317.91 | $ -42.57 | -13.39 % |
| 1986 | $ 367.69 | $ 49.78 | 13.54 % |
| 1987 | $ 446.47 | $ 78.78 | 17.65 % |
| 1988 | $ 437.05 | $ -9.42 | -2.16 % |
| 1989 | $ 381.43 | $ -55.62 | -14.58 % |
| 1990 | $ 383.47 | $ 2.04 | 0.53 % |
| 1991 | $ 362.18 | $ -21.29 | -5.88 % |
| 1992 | $ 343.73 | $ -18.45 | -5.37 % |
| 1993 | $ 359.77 | $ 16.04 | 4.46 % |
| 1994 | $ 384.01 | $ 24.24 | 6.31 % |
| 1995 | $ 384.16 | $ 0.15 | 0.04 % |
| 1996 | $ 387.70 | $ 3.54 | 0.91 % |
| 1997 | $ 331.10 | $ -56.60 | -17.09 % |
| 1998 | $ 294.16 | $ -36.94 | -12.56 % |
| 1999 | $ 278.77 | $ -15.39 | -5.52 % |
| 2000 | $ 279.03 | $ 0.26 | 0.09 % |
| 2001 | $ 270.99 | $ -8.04 | -2.97 % |
| 2002 | $ 309.97 | $ 38.98 | 12.58 % |
| 2003 | $ 363.51 | $ 53.54 | 14.73 % |
| 2004 | $ 409.21 | $ 45.70 | 11.17 % |
| 2005 | $ 444.84 | $ 35.63 | 8.01 % |
| 2006 | $ 604.34 | $ 159.50 | 26.39 % |
| 2007 | $ 696.72 | $ 92.38 | 13.26 % |
| 2008 | $ 871.71 | $ 174.99 | 20.07 % |
| 2009 | $ 972.97 | $ 101.26 | 10.41 % |
| 2010 | $ 1,224.66 | $ 251.69 | 20.55 % |
| 2011 | $ 1,569.21 | $ 344.55 | 21.96 % |
| 2012 | $ 1,669.52 | $ 100.31 | 6.01 % |
| 2013 | $ 1,411.46 | $ -258.06 | -18.28 % |
| 2014 | $ 1,265.58 | $ -145.88 | -11.53 % |
| 2015 | $ 1,160.66 | $ -104.92 | -9.04 % |
| 2016 | $ 1,248.99 | $ 88.33 | 7.07 % |
| 2017 | $ 1,257.56 | $ 8.57 | 0.68 % |
| 2018 | $ 1,269.23 | $ 11.67 | 0.92 % |
| 2019 | $ 1,392.50 | $ 123.27 | 8.85 % |
| 2020 | $ 1,770.25 | $ 377.75 | 21.34 % |
| 2021 | $ 1,799.63 | $ 29.38 | 1.63 % |
| 2022 | $ 1,800.60 | $ 0.97 | 0.05 % |
In this article, we will delve into the intricacies of gold pricing, explore the factors that influence its value, and provide valuable insights to help you navigate the world of gold investments.
Gold has captivated human civilization for centuries due to its rarity, beauty, and intrinsic value. As an investor, understanding the dynamics of gold prices is crucial for maximizing potential returns. Gold prices are influenced by a myriad of factors, ranging from global economic conditions to geopolitical tensions. By analyzing these factors, investors can gauge the potential trajectory of gold prices and make strategic investment decisions.
Gold prices often react to economic fluctuations. During times of economic uncertainty or recession, investors tend to flock to gold as a haven asset, driving its demand and subsequently increasing its price. Similarly, when economies thrive, the demand for gold may decrease, leading to a decline in its value.
Gold is often seen as a hedge against inflation. When the purchasing power of currencies diminishes due to rising inflation, investors turn to gold to preserve wealth. Conversely, during periods of deflation, when prices are declining, gold may not yield significant returns compared to other investment options.
Geopolitical tensions and instability can impact gold prices. Events such as political unrest, wars, or diplomatic conflicts can create uncertainty in financial markets, leading to increased demand for gold as a haven. Geopolitical stability, on the other hand, may reduce the appeal of gold as an investment asset.
The supply and demand dynamics play a crucial role in determining gold prices. Gold is a finite resource, and mining production levels can directly impact its availability. Additionally, industrial demand for gold in sectors such as jewelry, technology, and dentistry can influence its price.
In conclusion, understanding gold prices and their underlying factors is essential for anyone looking to invest in this precious metal. By closely monitoring economic conditions, geopolitical events, and supply-demand dynamics, investors can make informed decisions and potentially capitalize on opportunities presented by gold price fluctuations. Remember to conduct thorough research, stay informed, and consult with professionals to ensure your gold investments align with your financial objectives.