2020: The price of gold reaches an all-time high
- Average close price: $1,742.32 (+25.1% compared to previous year)
--- Inflation adjusted: $1,742.32 (+24.2%)
- U.S. gold production data not available
On July 27, 2020, the price of gold reached an all-time high, closing at $1,931 after briefly reaching $1,941.90 an ounce. The COVID-19 pandemic and U.S.-China relations contributed to the value of gold increasing by 27% in 2020. That climb may continue, with researchers predicting gold may reach $3,000 an ounce before 2020 is over.
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