Price of Gold in 2008

The Global Financial Crisis of 2008 hit the gold market hard, and that year was a volatile year (ups and downs) for gold prices. Positively, gold investment increased as people’s faith in the dollar and stock market waned, but it wasn’t without its challenges.

With the charts below, you can see the Gold Prices in 2008 and movement of spot prices throughout the year.

Gold Prices 2008 Chart

What Impacted Gold Prices in 2008?

The 2008 gold market was all about the Global Financial Crisis. At the start of the year, much of the world’s banking and financial system collapsed. It was the worst economic downturn since the start of the Great Depression in 1929. During this time, gold prices rose significantly, and Gold surged to new nominal all-time highs during the first quarter, breaking the US$1,000 per ounce mark for the first time ever.

Then something changed. Between March and October, the gold bullion market experienced an increasingly disorderly selloff as the magnitude of the unfolding crisis became clearer. By September, prices fell to their lowest level of the year, $692.50 per ounce. Fortunately, it was just a bump in the road.

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.

Best Gold for Investment

You can invest in gold in a variety of ways, including futures contracts, gold exchange traded funds, and mining stocks. However, one of the most secure methods is to invest in physical gold – gold bars, coins, and rounds. 

Gold bars are an excellent investment if you have plenty of space and no intention of selling your bullion in part. They are an excellent way to purchase bulk gold that you can keep for many years (they are also simple to stack and store). 

On the other hand, gold coins and rounds are a great way to invest in gold that allows you to sell in pieces if necessary. Coins and rounds are liquid investments because they sell easily on the market, and some coins have a dollar value, allowing them to be used as legal tender in times of need.

Buy Gold Online with CanAm

As a result of its stability in whatever market, physical gold has become a more alluring option for precious metals investors. Increasing your gold holdings with pure, high-quality gold bars and bullion might help you feel more comfortable about the future.

We can assist you in diversifying your financial holdings here at CanAm Bullion. Our customer service representatives are available to help if you have any questions. You can also visit our online store and start shopping today.