The gold spot price’s lowest mark in the last 30 years was $252 (2001) and since that time gold has shattered record after record in its upward pursuit. Most people know that gold reached $1900 per ounce in recent years, but other than highlights on the evening news few people know exactly how gold has performed since reaching that historic mark. Here are the facts:
In the last 12 years gold has risen from $252 per ounce to a high of $1923 and is now selling for $1388 per ounce. Percentage-wise gold is up about 450 percent in the last 12 years.
After reaching its historic high of $1923 in 2011 gold has had some rough times. The gold spot price has fallen some 27 percent since surpassing the $1900 mark, and was down by as much as 37 percent earlier this year when the gold spot price fell to $1198.
In the last 365 days the gold spot price has fallen approximately 17 percent. In dollars gold has decreased in value by about $300 per ounce in the last year.
In the last month gold is up significantly, posting a 6.72 percent gain and rising from $1305 to today’s value of $1388 per ounce, per the COMEX division of the New York Mercantile Exchange (NYMEX).
As of 11am CST the gold spot price is down approximately $20 for September 4, 2013. This is a decline of 1.47 percent for the trading session.
The gold spot price, like all investments, fluctuates and breathes. While the trend over the last two years is most definitely bearish, the long-term trend is bullish and technical factors, as well as U.S. economic data, point to a higher gold price in the near future. When the gold spot price may rise and how far it may rise, however, are yet to be determined.
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