What was the highest price of gold per ounce ever?

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Inflation, lack of economic growth and rising unemployment created the perfect storm of economic disaster, and many investors sought gold as a hedge against stagflation, causing its price to soar. And since interest rates, inflation and exchange rates are constantly changing, it makes sense that gold prices should, too. Just because countries have abandoned the use of the gold standard does not mean that gold is valued less. Lower interest rates and higher inflation tend to make gold more expensive, and any weakness in the U.S.

dollar will also cause the price of gold to rise. Gold as a precious metal is still as valuable as it ever was, and its prices are affected by factors such as central bank decisions on interest rates and inflation, and even the exchange rate. The value of gold skyrocketed in the 1970s, after the United States abandoned the gold standard and switched to the U.S. dollar without gold backing as “fiat money”.

While the gold standard, according to which the standard economic unit (the dollar for us here in the U.S. In the US) is based on a fixed amount of gold, it has been abandoned for quite some time, many countries still maintain large gold reserves. The decision to buy or sell precious metals with outside funds or within a gold IRA or a gold-backed IRA, and which precious metals to buy or sell, is the customer's sole decision, and purchases and sales must be made subject to research, prudence and judgment of the customer. Whether it's 10-carat gold (often found in jewelry) or 24-karat gold (usually coins and ingots intended for investment) or anything in between, Express Gold Cash buys it all.

In fact, you can always check what we're paying so you can estimate the payment you'll receive for your gold even before you send us the gold. With prices reaching this all-time high, now may be a great opportunity to sell broken, used and underappreciated gold that is gathering dust. History shows us that gold shines especially in times of serious crisis, causing its price to break new records. Anyone considering purchasing precious metals, Gold American Eagles, Proof Gold American Eagles, certified gold coins, as well as gold and silver ingots, should carefully consider and evaluate the associated acquisition risks and costs before making the investment, and should always consult their financial and tax professional and carefully evaluate all risks associated with acquiring precious metals before making the investment.

Interactive chart with historical data on the real (inflation-adjusted) prices of gold per ounce up to 1915. However, in the chart you will notice that, after the year 2000, the price of gold has started an upward trend again.