Gold increased 393.93 USD/t oz. or 15.01% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold - values, historical data, forecasts and news - updated on March of 2025.

As of December 2024, the London (morning fixing) price of an ounce of gold cost an average of 2,643.83 U.S. dollars, a slight decrease compared to the average monthly morning fixing price of 2,656.09 U.S. dollars per ounce in the previous month.

London fixing gold price In January 2020, the average price for an ounce of fine gold was 1,560.67 U.S. dollars. It increased to 1,935.04 U.S. dollars as of April 2022. Although the monthly price for fine gold fluctuates, the average annual price of fine gold is gradually increasing. In 2001, the price for one ounce of gold was 271 U.S. dollars, and by 2012 the price had risen to some 1,670 U.S. dollars. By 2023, the annual average gold price was nearly 2,000 dollars per ounce. In that year, global gold demand reached 4,448.3 metric tons worldwide. Price determinants of fine gold Fine gold is considered to be almost pure gold where the value of the metal depends on the percentage of fineness. Twenty-four carat gold is considered fine gold (from 99.9 percent gold by mass and higher). London Gold Fix acts as a benchmark for the price of gold. The price of gold is set by the members of the London Gold Market Fixing Ltd undertaken by Barclays and its other members. The price is determined twice per business day at 10:30 am and 3:00 pm based on the London bullion market in order to settle contracts within the bullion market. The price is based on the equilibrium point between supply and demand agreed upon by participating banks. Gold prices must remain flexible and gold fixing provides an instantaneous price at specified times.

Historical dataset of the price of gold in U.S. dollars over the last 10 years.

This statistic depicts the average monthly prices for gold worldwide from January 2014 through January 2025. In January 2025, the average monthly price for gold worldwide stood at 2,709.69 nominal U.S. dollars per troy ounce.

Dataset of historical annual gold prices from 1970 to 2024, including significant events and acts that impacted gold prices.

The price of gold per troy ounce increased considerably between 1990 and 2024, despite some fluctuations. A troy ounce is the international common unit of weight used for precious metals and is approximately 31.3 grams. At the end of 2024, a troy ounce of gold cost 2,386.2 U.S. dollars. Price of – additional information In 2000 the price of gold was at its lowest since 1990, with a troy ounce of gold costing 274.5 U.S. dollars in that year. Since then gold prices have been rising and after the economic crisis of 2008 the price of gold rose at higher rates than ever before as the market began to see gold as an increasingly good investment. History has shown that time and time again, gold is seen as a good investment in times of uncertainty because it can or is thought to function as a good store of value against a declining currency as well as providing protection against inflation. However unlike other commodities, once gold is mined it does not get used up like other commodities (for example, such as gasoline). So while gold may be a good investment at times, the supply demand argument does not apply to gold. Nonetheless, the demand for gold has been mostly consistent.

This statistic depicts the average annual prices for gold from 2014 to 2023 with a forecast until 2026. In 2023, the average price for gold stood at 1,943 U.S. dollars per troy ounce, the highest value recorded throughout the period considered.

In 2023, one troy ounce of gold had an annual average price of 1,943.08 U.S. dollars. Gold market and industry From 2012 to 2018, the annual average gold price dropped from 1,668.98 U.S. dollars per troy ounce to 1,268.49 U.S. dollars per troy ounce, with a slight growth to approximately 1,400 U.S. dollars per troy ounce in 2019. In 2020 the figure rebounded to a record 1,769.64 U.S. dollars per ounce. The average price has grown significantly from the early 2000s with an annual average price of 279 U.S. dollars per troy ounce in 2001 up to the record high in 2020. Similarly, the costs of mining gold have risen considerably in recent years. In 2005, mining costs totaled 280 U.S. dollars per troy ounce and increased to 566 U.S. dollars per troy ounce in 2010. As of 2022, for example, Canadian company Barrick Gold reported an average realized gold price of 1,795 dollars per ounce. Gold pricing determinants Gold is a metal that is considered malleable, ductile, and is known for its bright lustrous yellow color. This transition metal is highly valued as a precious metal for its use in coins, jewelry, and in investments. Gold was also once used as a standard for monetary policies between different countries. The price of gold is determined by daily fixings where participants agree to buy or sell at a set price or to maintain the price through supply and demand control. For gold, companies like Barclays Capital, Scotia-Mocatta, Sociétè Générale, HSBC, and Deutsche Bank are members in gold fixing at the London Bullion Market Association.

During the last quarter of 2024, the gold prices in the USA reached 2652 USD/Troy Ounce (H2 2024 Avg Price) in December. As per the gold price chart, due to changing investor attitudes and economic developments, prices in the United States experienced substantial fluctuations in late 2024.

Explore IMARC’s newly published report, titled “Gold Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of gold pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Indonesia Retail Price: Gold: All Carat: Sumatera: Jambi data was reported at 485,818.500 IDR/g in Dec 2018. This records a decrease from the previous number of 492,553.500 IDR/g for Nov 2018. Indonesia Retail Price: Gold: All Carat: Sumatera: Jambi data is updated monthly, averaging 136,651.125 IDR/g from Jan 1993 (Median) to Dec 2018, with 312 observations. The data reached an all-time high of 492,553.500 IDR/g in Nov 2018 and a record low of 20,356.250 IDR/g in Jan 1993. Indonesia Retail Price: Gold: All Carat: Sumatera: Jambi data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.PC006: Average Weekly Retail Price: By Province: Gold.

Weekly Gold Market Prices in Hong Kong 1962-1972 :This data records the weekly high and low spot Hong Kong Dollar price for one tael of gold in the Hong Kong gold market from the week ending 27 December 1962 to 30 December 1972 as reported in the Far Eastern Economic Review.

The current economic crisis has emphasized the importance of developing a long term perspective on institutional change in order to understand and respond to current and future challenges in the global economic system. This project will assess the development of international financial regulation by contrasting studies of institutional decision-making in three international financial centres in the late 20th century (from 1961-1982) as the market and regulators responded to a series of challenges and at the same time embarked on a process of liberalisation. New York, London and Hong Kong offer a range of institutional and political economy contexts in which to examine how regulation was developed, coordinated and applied at both national and multinational levels. In addition to using the archives of central banks, multilateral organisations such as the IMF and Bank for International Settlements, this project will draw on the internal correspondence of international banks and their relations with regulating bodies.

In 2021, the Myanmar's gold market decreased by -48.3% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

The average price of gold in Mumbai stood at approximately 60,623 Indian rupees per ten grams during the financial year 2024, up from 53,000 Indian rupees per ten grams in the previous year. Nevertheless, the price of gold in the Indian city has experienced an overall increase in recent years.

Indonesia Retail Price: Gold: All Carat: Papua: Jayapura data was reported at 585,556.000 IDR/g in Dec 2018. This stayed constant from the previous number of 585,556.000 IDR/g for Nov 2018. Indonesia Retail Price: Gold: All Carat: Papua: Jayapura data is updated monthly, averaging 157,081.685 IDR/g from Jan 1993 (Median) to Dec 2018, with 312 observations. The data reached an all-time high of 604,444.000 IDR/g in Jul 2018 and a record low of 23,687.500 IDR/g in Jan 1993. Indonesia Retail Price: Gold: All Carat: Papua: Jayapura data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.PC006: Average Weekly Retail Price: By Province: Gold.

Indonesia Retail Price: Gold: All Carat: Sumatera: Banda Aceh data was reported at 517,075.000 IDR/g in Dec 2018. This records a decrease from the previous number of 523,910.000 IDR/g for Nov 2018. Indonesia Retail Price: Gold: All Carat: Sumatera: Banda Aceh data is updated monthly, averaging 160,228.695 IDR/g from Jan 1993 (Median) to Dec 2018, with 312 observations. The data reached an all-time high of 529,675.000 IDR/g in Apr 2018 and a record low of 21,585.000 IDR/g in Apr 1993. Indonesia Retail Price: Gold: All Carat: Sumatera: Banda Aceh data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.PC006: Average Weekly Retail Price: By Province: Gold.

In 2025, the price of platinum is forecast to hover around 1,150 U.S. dollars per troy ounce. Meanwhile, the cost of per troy ounce of gold is expected to amount to 1,700 U.S. dollars.

Precious metals

Precious metals are counted among the most valuable commodities worldwide. The most well known such metals are gold, silver and the platinum group metals. A precious metal can be used as an industrial commodity or as an investment. The major areas of application include the following sectors: technology, car-making, industrial manufacturing and jewelry making. Furthermore, gold and silver are used as coinage metals, and gold reserves are held by the central banks of many countries worldwide in order to store value or for use as a redemption medium. The idea behind this procedure is that gold reserves will help secure and stabilize the countries’ respective currencies. At 8,100 tons, the United States is the country with the most extensive stock of gold. It is kept in an underground vault at the New York Federal Reserve Bank.

Russia, the United States, Canada, South Africa and China are the main producers of precious metals. Silver is the most abundant of the metals, followed by gold and palladium. Barrick Gold is the world’s largest gold mining company. The Toronto-based firm produced some five million ounces of gold in 2020. The leading silver producers include Mexico-based Fresnillo, Poland’s KGHM Polska Miedž and the mining giant Glencore. Anglo Platinum and Impala are the key mining companies to produce platinum group metals.

In 2023, Silver prices are expected to settle at around 23.5 U.S. dollars per troy ounce. It is expected to remain the precious metal with the lowest value per ounce. The price of gold is forecast to drop to around 1,663 U.S. dollars per ounce, making it the most expensive precious metal in 2023.

Dataset of historical annual silver prices from 1970 to 2022, including significant events and acts that impacted silver prices.

Silver increased 4.76 USD/t. oz or 16.49% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Silver - values, historical data, forecasts and news - updated on March of 2025.

Indonesia Retail Price: Jakarta: Gold: All Carat data was reported at 507,703.000 IDR/g in Dec 2018. This records a decrease from the previous number of 511,557.000 IDR/g for Nov 2018. Indonesia Retail Price: Jakarta: Gold: All Carat data is updated monthly, averaging 129,833.335 IDR/g from Jan 1993 (Median) to Dec 2018, with 312 observations. The data reached an all-time high of 514,685.000 IDR/g in Apr 2018 and a record low of 21,028.330 IDR/g in Mar 1993. Indonesia Retail Price: Jakarta: Gold: All Carat data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.PC006: Average Weekly Retail Price: By Province: Gold.

Gold and silver prices increased over the course of 2021, but these did not grow as fast as the prices of iridium and, especially, rhodium. According to a comparison of price indices, the price for rhodium - a precious metal similar to platinum and used especially in catalytic converters of cars - was ten times higher in April 2021 than it was in January 2019. The price hike for rhodium was apparently caused by coronavirus-related lockdowns implemented in South Africa, where mining companies had to close for several weeks.