Price of Gold in 2010

In 2010, Gold reached a mid-year high of $1,264.90 per ounce, as concerns about the spread of eurozone debt problems fueled safe-haven buying. Ups and downs followed, but by the end of the year, it was back on track, despite fears that the global recovery is losing steam owing to a weaker dollar and economic uncertainty.

View the charts below to see how the Price of Gold 2010 saw ups and downs.

Gold Prices 2010 Chart

What Impacted Gold Prices in 2010?

2010 was an extraordinary year for gold, with high demand across all sectors. According to the World Gold Council, Gold demand for the year reached a ten year high, with yearly demand of 3,812.2 tonnes worth around US$150 billion.

In 2010, the jewelry industry experienced a robust rebound, with yearly demand 17% higher than in 2009. Asian customers drove the market for jewelry, especially in China and India.

A structural shift in central bank policy toward gold caused central banks to become net purchasers of gold in 2010 for the first time in 21 years. Although investment demand was down 2% compared to 2009, it was still the second largest year on record at 1,333 tonnes, equivalent to US$52 billion.

The continued uncertainties surrounding the global economic recovery and fiscal imbalances, as well as the concern of inflationary pressures and currency tensions, were the major impactors.

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 Is Gold a Good Investment?

Gold is seen as a safe haven despite being an asset that generates no income. Many investors choose gold as a hedge against economic uncertainty due to its poor historical correlation with other investment assets.

Gold has a history of value increases when inflation is rising and when the stock market is selling considerably low. When bond rates go down, gold prices typically go up.

Gold’s many favorable qualities make it an appealing investment option for those seeking diversification away from the more conventional equities and bonds.

Buy Gold Online with CanAm

The availability of a wide selection of bullion and coins makes gold a practical option for precious metals investors. CanAm Bullion strives to ensure a pleasant bullion-purchasing experience by delivering honest service, fair prices, and timely delivery.

If you have questions about the current gold investment opportunities, don’t hesitate to contact our team of experts. If you’re ready to invest today, view our range of products on our online store.