Historical Gold Price Development
Gold Price Performance from 1973 to 2023
The historical gold price development shows a clear upward trend over the past decades. In 1973, the price of gold was around $100 per troy ounce. By the end of 2023, it had risen to over $1,800 per troy ounce.
Gold Price Development in Euro
The gold price development in euro has been similar to that in dollars. In 1973, the price of gold was around €50 per troy ounce. By the end of 2023, it had risen to over €1,500 per troy ounce.
Factors Influencing Gold Price Development
The gold price is influenced by a number of factors, including:
- Economic conditions
- Political instability
- Inflation
- Supply and demand
Gold is often seen as a safe haven asset during times of economic uncertainty. When the economy is doing well, the price of gold tends to be lower. When the economy is doing poorly, the price of gold tends to be higher.
Conclusion
The historical gold price development shows that gold has been a valuable asset over the long term. Despite periods of volatility, the price of gold has generally trended upward. This makes gold a good investment for those who are looking for a safe haven asset that can protect their wealth during times of economic uncertainty.
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