The metal rallied 70% from January 2010 to Sept. 6, 2011, when it peaked at $1,921.17 an ounce. It then retreated to as low as $1,183 near the end of 2013. So far in 2014, the metal has rallied 11% year to date, to a recent $1,336 per troy ounce (July 2014).
1 troy ounce = 31.1034768 grams
The troy ounce is about 10% heavier than the "normal" ounce.
So an ounce of gold would weight ~ 2.8 grams more than an ounce of sugar.
- All gold currently above ground (~170,000 metric tons) could fit into 2-1/2 Olympic-sized pools
- Annual gold production globally is roughly 3,000 metric tons.
- Annual increase in production is about 1.75%, comparable to population increase.
- A lot of the physical gold that's above ground has migrated to Asia. Imports into China have been at record levels, and India is a big buyer of gold, as well. There is less gold in Western vaults than there was a couple of years ago. But because Asian investors tend to hold their gold—they don't view it so much as a trading vehicle—it may not be available, should there be a rise in investment demand in the West.
Gold prices 1971 - 2014 in 3 waves
2013 1 oz Gold American Eagle
Coin Highlights:
- Contains 1 oz actual gold weight.
- Eligible for Precious Metals IRAs.
- Obverse: Adapted from Augustus Saint-Gaudens’ famed Gold Double Eagle design, which features Lady Liberty walking confidently against the sun’s rays.
- Reverse: Designed by Miley Busiek, the reverse shows a male bald eagle in flight carrying an olive branch to his nest, where a female awaits with her young.
- Minted at West Point, N.Y.
- Price $1,389.59 (9/13)
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