This page presents a wealth of information on historical gold prices, as well as gold price per ounce charts. If you're considering investing in gold, you might want to take a look at the metal's price history. The chart at the top of the page lets you see historical gold prices per ounce that go back more than 40 years. You can also view these gold prices per ounce in different currencies and view their performance over a long period of time. Depending on the currencies used, you may find better long-term value.
For example, since gold is normally denominated in US dollars, if the dollar is weaker, someone buying gold in yen or euros may find that gold is relatively cheaper. On the other hand, a stronger dollar can make gold relatively more expensive in other currencies due to exchange rates. Gold has been considered precious throughout history, but it wasn't used as money until around 550 BC. C.
At first, people carried gold or silver coins with them. If they find gold, they could have their government make tradable currencies with it. Due to its value and its usefulness as a currency, the evolution of the value of gold dates back to 30 BC. We'll start with a roughly 700-year-old gold price chart that uses UK gold price data converted into gold prices in U.S.
dollars that go back in time, even before Christopher Columbus, eager for gold, and other explorers of the New World arrived in the Americas. The following chart shows the price of gold since 1968, with some notable events in the gold market. When people refer to the spot price of gold, they are simply referring to the price at which you could buy gold at that time. For ease of reference, this page also contains a simple table showing the change in the price of gold and the percentage change in a single day, 30 days, six months, one year, five and 16 years.
The nearly seven hundred-year-old dataset begins with a price of British gold per ounce of 0.89 pounds sterling and ends with several centuries of a fixed price of 4.25 pounds sterling per ounce for gold in British pounds. If this continues to be the case, gold could continue on an upward trend, as investors rely on it for its perceived security and its potential as a hedge against falling currency values. When the strength of the dollar increases and inflation decreases, interest rates can be expected to fall at the same time as gold prices. The following graph illustrates the gold prices in U.S.
dollars in their bull gold markets of the 1970s and 1980s, which are currently dwarfed by the current 21st century gold rush. The analysis of historical gold prices can provide information that can help make buying or selling decisions. If you're looking for an assignment to an alternative currency, gold bars are perhaps the best option available.