Price of Gold in 2016

In 2016, oil prices plummeted below $30 per barrel, and the stock market declined, prompting many investors to shift their focus to precious metals. Gold’s value increased with demand.

The charts below show the 2016 Gold Prices and the movement of spot prices throughout the year.

Gold Prices 2016 Chart

What Impacted Gold Prices in 2016?

The most impressive portion of gold’s rise in 2016 occurred in the beginning of the year when the yellow metal rose from around $1,060 per ounce to $1,275. At that point in the year, there was a great deal of uncertainty in the financial markets, which prompted some investors to seek out gold as a perceived safe haven.

Specifically, the stock market experienced a precipitous decline, Chinese stock markets were also in jeopardy, and there were concerns that the Federal Reserve would increase interest rates.

2016 also marked the lowest demand for jewelry in seven years. And, negative interest rates in places such as Europe and Japan created unprecedented conditions for markets to adjust. These low rates supported gold values by enticing investors.

By the end of 2016, however, gold had surrendered most of its gains. After reaching highs of nearly $1,375 per ounce, gold concluded the year around $1,145 per ounce.

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.

How to Invest in Gold

Gold can be invested in physically or through paper stocks. While paper stocks might work for some people, holding physical Gold offers greater protection against market fluctuations.

To get the most return on your gold investment, keep in mind that gold bars of investment quality should be at least 99.5% (995) pure. You can buy gold in the form of bars, with sizes ranging from 1 ounce to 1 kilogram, as well as coins and rounds.

For a first-time investor, start with smaller bars or coins, as these are more readily liquidated in the event of a market shift.

Buy Gold Online with CanAm

CanAm values dependable relationships with its clientele and works hard to foster them. To achieve this goal, we focus on two key areas: superior customer service and fair, accurate pricing.

Gold bullion and pure Gold bars are excellent portfolio diversifiers. To get your collection started, you can shop at our online store, and if you have any questions, you can speak with one of our investment advisors.