Price of Gold in 2001

There was a lot of pressure on the gold market in 2001. It was riding on the back of Y2K panic (that led to many markets still recovering), there were falls in the stock market, businesses collapsed, and towards the end of the year, the terrorist attacks on September 11.

To learn more about the spot price of gold in 2001, view our charts below.

Gold Prices 2001 Chart

What Impacted Gold Prices in 2001?

The biggest impact on gold prices in 2001 was the September 11 attacks on the US. The attacks caused the dollar to fall almost immediately, which in turn led to an increase in the value of gold as people started to panic buy secure assets.

The subsequent shut down of stock and commodity exchanges in New York led to chaos, and in overseas bullion trade, gold was reported to climb to US$287 an ounce on the afternoon of September 11 (having started the day at US$271.40) as people worldwide stocked up on bullion.

This panic buying started to settle days later and while gold price increases weren’t dramatic overall in 2001, at the end of the year they were still slightly up compared to 2000, at US$276.50 per ounce (versus US$274.50 in 2000).

Daily Gold Prices (Chart)

To 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.

Why Should I Add Silver To My Portfolio?

Gold is a great addition for a diversified investment portfolio. One of the reasons for this is that its price rises in response to events that cause paper investments, such as stocks and bonds, to lose value. 

Although the price of gold can be erratic in the short term, it has always maintained its value over the long run. During times of economic unpredictability, many people believe gold is an effective strategy to safeguard their wealth. 

Most estimations imply gold investment should make up around 5-10% of your portfolio.

Buy Gold Online with CanAm

People have been interested in gold as a physical asset for thousands of years, and it has long been the best way to show off and store wealth. When investors buy gold, they usually buy it in the form of coins or bars. The international standard is “999.9,” meaning that physical gold products are 99.99% pure gold.

All bullion products sold by CanAm Bullion are marked with their purity, and meet the highest quality standards.