1 thought on “What are the examples of gold prices in history?”
Nellie
After: 1900, the United States acts in the golden position. At that time, one ounce was $ 20.67, and the gold standard system was maintained to the Great Depression. In 1934, Roosevelt raised the price of gold to $ 35. 1944 Bretton Forest Sports is actually a "US dollar ability that can be exchanged for gold". Because this currency system can have a certain positive impact on the post -war economic reconstruction, the price of gold is maintained at 35 US dollars, and it has continued until it continues until it is until until it is until it continues to reach until until it is until it is continued. 1970. In the past 30 years, the price of gold has fluctuated violently, and the minimum price of gold is 253.8 US dollars/ounce (July 20, 1999), with a maximum of 850 US dollars/ounce (January 18, 1980). November 26, 1979 (according to Nymex futures price) price was $ 390/ounce, while less than 2 months. On January 18, 1980, the price of gold has risen to $ 850/ounce, which has become 30 years. The highest point. In the end of March 2002, the price of gold returned to more than $ 300, returned to $ 400 on December 1, 2003, and the price exceeded $ 500/ounce on December 1, 2005. $ 600/ounce, reached the recent highest point of $ 723 on May 11, 2006. The incentives to the violent fluctuation of gold prices are the disintegration of the Bretton Forest system in the 1970s. In 1973, the Nixon government announced that it would no longer promise the US dollar to exchange gold, and the price of gold was completely decoupled with the US dollar and began to float freely. Since then, the fluctuations of gold prices to the greatest extent reflect the balanced effects of gold currency and commodity attributes. Reason: 1. Due to the international reserve function of gold, gold is widely used in reserves with assets with long -term reserve value. In the 1970s, after the floating exchange rate system appeared on the historical stage, the monetary functions of gold were weakened and the function of reserve assets was strengthened. The increase in official gold reserves of various countries has led to a significant increase in international gold prices after the 1970s. In the 1980s and 1990s, the central banks began to look at the role of gold in foreign exchange reserves. The central bank is becoming independent and market -oriented, making it more emphasis on the revenue of reserve asset portfolios. In this context, the status of gold without any interest income (except participating in the loan market can get a little gain) has declined. Some central banks decided to reduce the gold reserves. As a result, the amount of gold reserves in 1999 decreased by 10%compared with the 1980 gold reserves. It was precisely because of the selling gold in major countries that the price of gold at that time was in a sluggish state.
extension information:
. According to the latest statistics of the China Gold Association, as of the end of 2015, my country's gold reserves have reached 1762.32 Ton. On July 17, 2015, after 6 years of the central bank of my country, the latest gold reserve data was announced, an increase of 604 tons from the last announcement, reaching 1658.1 tons. Compared with the same period in 2014, the output of gold decreased by 1.746 tons, a year -on -year decrease of 0.39%. Among them, gold mineral gold was completed 379.423 tons, and 70.630 tons were completed. China Gold, Purple Gold Mining, Shandong Gold, Shandong Zhaojin and other large -scale gold enterprise group gold finished gold finished gold production and mineral gold production accounted for 49.06%and 44.38%of the country, respectively. In 2015, the national gold consumption was 985.90 tons, an increase of 34.81 tons compared with the same period in 2014, an increase of 3.66%. Among them: 721.58 tons of gold jewelry, an increase of 2.05%year -on -year, a gold bar of 173.08 tons, an increase of 4.81%year -on -year, 22.80 tons of gold coins, an increase of 78.13%year -on -year. Reference information: Tencent.com-China Gold Reserve is 1762 tons
After:
1900, the United States acts in the golden position. At that time, one ounce was $ 20.67, and the gold standard system was maintained to the Great Depression. In 1934, Roosevelt raised the price of gold to $ 35.
1944 Bretton Forest Sports is actually a "US dollar ability that can be exchanged for gold". Because this currency system can have a certain positive impact on the post -war economic reconstruction, the price of gold is maintained at 35 US dollars, and it has continued until it continues until it is until until it is until it continues to reach until until it is until it is continued. 1970.
In the past 30 years, the price of gold has fluctuated violently, and the minimum price of gold is 253.8 US dollars/ounce (July 20, 1999), with a maximum of 850 US dollars/ounce (January 18, 1980).
November 26, 1979 (according to Nymex futures price) price was $ 390/ounce, while less than 2 months. On January 18, 1980, the price of gold has risen to $ 850/ounce, which has become 30 years. The highest point.
In the end of March 2002, the price of gold returned to more than $ 300, returned to $ 400 on December 1, 2003, and the price exceeded $ 500/ounce on December 1, 2005. $ 600/ounce, reached the recent highest point of $ 723 on May 11, 2006.
The incentives to the violent fluctuation of gold prices are the disintegration of the Bretton Forest system in the 1970s. In 1973, the Nixon government announced that it would no longer promise the US dollar to exchange gold, and the price of gold was completely decoupled with the US dollar and began to float freely. Since then, the fluctuations of gold prices to the greatest extent reflect the balanced effects of gold currency and commodity attributes.
Reason:
1. Due to the international reserve function of gold, gold is widely used in reserves with assets with long -term reserve value. In the 1970s, after the floating exchange rate system appeared on the historical stage, the monetary functions of gold were weakened and the function of reserve assets was strengthened. The increase in official gold reserves of various countries has led to a significant increase in international gold prices after the 1970s.
In the 1980s and 1990s, the central banks began to look at the role of gold in foreign exchange reserves. The central bank is becoming independent and market -oriented, making it more emphasis on the revenue of reserve asset portfolios. In this context, the status of gold without any interest income (except participating in the loan market can get a little gain) has declined. Some central banks decided to reduce the gold reserves. As a result, the amount of gold reserves in 1999 decreased by 10%compared with the 1980 gold reserves. It was precisely because of the selling gold in major countries that the price of gold at that time was in a sluggish state.
extension information:
. According to the latest statistics of the China Gold Association, as of the end of 2015, my country's gold reserves have reached 1762.32 Ton. On July 17, 2015, after 6 years of the central bank of my country, the latest gold reserve data was announced, an increase of 604 tons from the last announcement, reaching 1658.1 tons. Compared with the same period in 2014, the output of gold decreased by 1.746 tons, a year -on -year decrease of 0.39%. Among them, gold mineral gold was completed 379.423 tons, and 70.630 tons were completed. China Gold, Purple Gold Mining, Shandong Gold, Shandong Zhaojin and other large -scale gold enterprise group gold finished gold finished gold production and mineral gold production accounted for 49.06%and 44.38%of the country, respectively.
In 2015, the national gold consumption was 985.90 tons, an increase of 34.81 tons compared with the same period in 2014, an increase of 3.66%. Among them: 721.58 tons of gold jewelry, an increase of 2.05%year -on -year, a gold bar of 173.08 tons, an increase of 4.81%year -on -year, 22.80 tons of gold coins, an increase of 78.13%year -on -year.
Reference information: Tencent.com-China Gold Reserve is 1762 tons