Before you invest in precious metals, and before you speculate on the future of them, you need to look to the past, to the previous successes and failings, and to the highs and lows of precious metals. That’s what we will do in this article.
All of this data was taken from the GoldBroker website, where you can find a host of charts detailing the history of gold and silver.
Gold at its Highest
If you take the yearly highs for the last 50 years or so, then it might be a surprise to discover that the biggest year for gold was in 2011, when it reached just under $1,900 an ounce. In fact, the highs of 2012 and 2013 weren’t much smaller than this, but the markets took a bit of a hit in 2014, and in 2015 it didn’t move above $1,300 an ounce.
Prior to this, the first time gold passed $1,000 an ounce was in 2008, when it reached a yearly high that was a good 25% higher than the previous year. The big rise in 2008, and the subsequent increases, no doubt had a lot to do with the recession and the banking crises, as doubts spread through the investing community and more and more people turned to precious metals in order to safe guard their fortunes.
Gold at its Lowest
You might be shocked to learn that, in 1972, the price of an ounce of gold peaked at just $70, and it hit a low of $44. This high was nearly half of what it reached the following year, and even when you account for inflation, this was a very small amount. However, gold had a bright future ahead of it, and over the next few decades, it didn’t drop below this amount.
In fact, throughout the 70s, the yearly lows were higher than they were the previous year, with one exception in 1976. These fluctuated throughout the 80s, 90s and 00s, but the average lows still hovered around the $300 mark, which would be considered a steal in this day and age.
Silver Highs and Lows
It is a little hard to gauge the value of precious metals over hundreds or even thousands of years, as there were no set prices then as there are now. However, what we do know for a fact is that there has only been one point in history in which silver has been valued higher than gold. This occurred for a time during the Middle-ages in Europe, when silver was valued for its apparent healing benefits as much as its usefulness and beauty.
Silver is also much more volatile than gold, and unlike gold, it experienced some huge growth during the 70s and 80s. In fact, in 1980, silver hit more than $35 an ounce, an astonishing amount when you consider that it has lingered around $15 an ounce for a few years now. This had nothing on 2011 though, when silver experienced an unprecedented rise and peaked at more than $45 an ounce.
These highs may seem like a long way off, but the lows are even further off, as silver’s lowest point was just under $1,50, which it hit in the 1970s, and in 2003 you could get an ounce of silver for just $5. But not since 2006 has it dropped far below $10 an ounce, and many experts predict that there is more chance of silver matching its highest point than there is of it reaching its lowest point. After all $1,50 for an ounce of silver seems like an outrageous proposition, and one that is not likely to come around again.
Conclusion on gold spot price historical data
Most dealers have gold and silver charts, and all investors need to keep a close eye on these. Some of the best charts can be found on GoldBroker, where you can also find a number of news stories on the latest rises and falls, as well as some information that can help you to predict future movements. You should research these before you buy and before you sell, because only then can you make an informed decision.