Gold Blog

The gold price reaches 2,000 US dollars for the first time in history

August 04, 2020

On August 4th 2020 the gold price for the first time surpassed 2,000 US dollars.

(Click to see large version)

Key milestones for gold over the last decades:

The United States effectively ends the Gold Standard with the official exchange rate of US$ 35 per ounce of gold.

The gold price rises above 100 US$.

The gold price hits a high of 850 US$ following heavy buying by investors due to high inflation and oil prices, the Soviet intervention in Afghanistan and the impacts of the Iranian revolution.

The World Gold Council and the London Bullion Market Association are founded.

Major European central banks signed the first agreement limiting the amount they could collectively sell in any one year.

The first exchange traded funds backed by physical gold were launched. In 2020 more than 3,500 tonnes were hold in Gold ETFs.

For the first time in 20 years, central banks turned into net gold buyers. In total, they added gold to their holdings each year since then.
The gold price surpassed 1,000 US$ per ounce.

The gold price reached more than 1,900 US$ amid a feared European debt crisis.

The gold price dropped to a low of about 1,060 US$ per ounce.

On August 4th, amid the Corona crisis, the gold price climbs to more than 2,000 US$ per ounce for the first time ever.

By continuing to use the site, you agree to our exclusion of liabilities and our use of cookies. More information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.