Price of Gold in 2000

The price of gold in 2000 was at its lowest since 1990, with a troy ounce of gold costing US$274.50. This is on the back of the expectation the world of technology would end when the clocks ticked over from 1999, as well as a variety of other mitigating factors.

To see what gold prices in 2000 were doing, view our charts below and you’ll be able to track spot prices throughout that year.

Gold Prices 2000 Chart

What Impacted Gold Prices in 2000?

Towards the end of the 1990s, gold prices fluctuated between $270 and $290 per ounce. The end of 1999 saw central banks reduce their gold reserves, and mining companies started selling gold in forward markets to protect themselves against falling prices.

There was also a limit put in place for gold sales across 15 central banks in Europe – with signatories believing this restriction would protect gold producers from a lower gold price and that it would discourage future gold production.

Daily Gold Prices (Chart)

PTo find the daily prices for Gold in this year, use the date filters in the chart above.

The information provided here is for educational purposes only and should not be used for speculation and investment purposes. CanAm does not guarantee that the prices shown here are correct, up-to-date, or complete, and we are not responsible for inaccuracies or omissions in this price data.

How do Central Bank Reserves Impact Gold Prices?

Central banks hold reserves of paper currency and gold; converting some of their paper currency to gold leads to an increase in gold prices.

Gold is a significant component of many countries’ reserves around the world and there are many reports that central banks around the world have been purchasing a record amount of gold since 1971, when the United States abandoned the gold standard.

In 2019, Turkey was the largest buyer of gold, according to the World Gold Council. Russia, Poland, and China followed suit. Governments purchased 650 metric tonnes of gold in 2019, a slight decrease from the 656 metric tonnes purchased in 2018, but still close to 50-year highs.

Buy Gold Online with CanAm

Physical gold has captivated civilization for millennia and has long been seen as the greatest method to display and store riches. Gold is normally purchased by investors in coin or bar form, with the worldwide standard established at ‘999.9,’ indicating that physical gold goods are 99.99% pure gold.

All bullion items sold by CanAm Bullion are marked with their purity and comply to the highest standards of quality.