Price of Gold in 2017

Gold’s price rose unexpectedly in 2017 by around 12%, though it was only marginal compared to the stock market (which rose by 20%).

Explore the charts below to see the 2017 Gold Prices and the movement of spot prices throughout the year.

Gold Prices 2017 Chart

What Impacted Gold Prices in 2017?

Gold’s price began the new year near US$1,150 per ounce and finished at US$1,300 per ounce.

Some analysts had predicted gold would struggle to maintain the gains it made in 2016 because the Federal Reserve decided to begin a more aggressive pace of monetary policy tightening in the United States. However, the price was positively influenced by the prolonged period of appreciation; and the US dollar posted significant losses against many major international currencies, including the Euro and the British Pound.

Concerns of escalating tensions between the United States and North Korea over the latter’s nuclear ambitions grew. Interest in precious metals as a hedge against declines in other asset classes was bolstered by ongoing concerns about Russian tampering in the US election and developments in other global hot spots like the Middle East.

The fourth quarter of 2017 saw a 6% year-over-year increase in gold demand, with 1,095.8 t being purchased. Demand for the year, however, fell by 7% to 4,071.7t.

Demand for gold bars and coins fell by 2%, while demand for jewelry increased by 4%. Rising smartphone and auto gold consumption sparked the first year of technology demand growth since 2010.

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’s returns are often better than those of stocks and bonds, and the performance is often at odds with that of more liquid asset classes like stocks and bonds.
•   The ability to quickly turn your investment into cash is a major benefit of purchasing certain gold-based assets.
•   Gold is a safe haven investment – people buy it when they think the economy is in danger as it has been considered a hedge against inflation and other monetary concerns for hundreds of years.

Buy Gold Online with CanAm

At CanAm Bullion, we value establishing lasting bonds of trust with our clientele. Our dedication to providing excellent customer service never waivers. When you buy Gold from us, you can rest assured that you’re getting the best deal possible at market value.

Today is a great time to start browsing for pure Gold bars or Gold bullion to add to your portfolio for diversification purposes. If you’re worried about your options, you can also speak with our team of investment experts today.