Gold has been a highly valued precious metal ever since it was discovered by the ancient Mesopotamians in 2600 B.C. While they used it to create the world’s first gold jewelry, gold is now available in many other equally valuable and appreciated forms. As for the highest price of gold in history, we explore this topic below. Even if they prefer to buy platinum coins or silver bullion, San Diego precious metals collectors might be interested in these interesting facts related to gold prices.
Pandemic Factors & Record-High Gold Prices
According to Gold Investing News, the 21st century, in general, has been a time for some notable gold price spikes. Because the gold markets are influenced to some extent by worldwide economic factors, it’s not surprising that 2020 was the year when gold prices hit an all-time high, largely due to pandemic-related issues. Specific COVID-related issues that resulted in higher gold prices included:
• Travel restrictions
• Limited gold supplies
• Investors turning to gold amid economic concerns, since gold is considered a more stable commodity
As of September 2021, the official highest price of gold in history was $2,067.15 per ounce. This high point came on August 7th, 2020. In the first half of 2020 alone, gold prices increased by more than 30 percent, although prices have since leveled off.
Historical Fluctuations in Gold Prices
While gold generally has a stable value, it has had some notable ups and downs as far as prices go. In 2013, the price of gold dipped to around $1,200. It hovered within this range until 2019, when a slowdown in global economic growth pushed prices up.
Being an Informed Gold Investor
With any investments in gold, whether in physical form or paper form, such as stocks linked to gold producers, it’s best to be a well-informed investor. For instance, the last time gold prices broke previous records was in 2011, when prices passed $1,900. However, just a few years later, prices dropped, as noted above. For this reason, the general recommendation is to seek advice from investment professionals if you’re looking to make gold part of your portfolio.
Other Notable Records Related to Gold Prices
There are some other notable gold price records worth mentioning when looking at specific physical gold pieces. With gold coins, the 1933 Double Eagle recently sold for a record $18.9 million. According to Sotheby’s, this is more than twice the previous record for a gold coin sold at auction.
According to Guinness World Records, the world’s most valuable single piece of gold in bar form is the largest pure gold bar ever made. On display at a museum in Japan, the massive bar has an estimated value that exceeds $13 million.
When they’re looking to buy gold, San Diego residents should work with trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to invest in gold bullion, coins, or bars. Give us a call today at 858-666-6570.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.