Gold price over the past 10 years

View the gold price over the past 10 years (2016 to 2026) here. Discover how the gold price has developed.

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Gold returns over the past 10 years

The gold price has fluctuated over the past 10 years. There have been periods of volatility, stability, and exponential growth.

From 2016 to 2024, the price of gold in dollars per kilogram rose fairly steadily from around $36,000 at the start of 2016 to nearly $87,000 in 2024. This means that investors who bought gold in 2015 saw their assets more than double in eight years.

In some years, investors could count on annual returns of over 15%, particularly during periods of economic uncertainty. One example of this was the coronavirus pandemic in 2019 and 2020.

After peaking in 2020, the gold price stabilized in the course of 2021, until the war between Russia and Ukraine broke out in 2022. Despite interest rate hikes by central banks, the price of gold rose. Gold remained popular as a safe haven in 2023, driven by ongoing global economic and geopolitical uncertainty.

In 2024, the gold price rose significantly (27% in US dollars in one year, and more than 35% in euros). This was the best annual return since 2010, partly due to high global inflation and interest rate cuts by central banks.

In 2025, gold prices absolutely skyrocketed. The rally was driven by ongoing geopolitical tensions, central bank interest rate cuts, and aggressive gold buying by central banks.That trend has continued into 2026.

At the start of 2026, gold shattered one record after another. The all-time high was set in January 2026, when the price topped $180,000 per kilo (roughly $5,600 per troy ounce).

Table: gold price 2016 to 2026

The table below shows the highest gold price and annual return for the past 10 years. The annual return is calculated by comparing the gold price on the first working day of the year with the gold price on the last working day of the year.

What is the forecast for the next 10 years?

The forecast for the next 10 years is that the price of gold is likely to rise, driven by factors such as geopolitical tensions, economic uncertainties, and increasing demand from central banks, especially from countries such as China and India.

After gold surged past the $5,000 threshold (and briefly touched $5,500) at the start of 2026, major investment banks sharply raised their long-term forecasts.

Analysts at firms like Goldman Sachs, Bank of America, and J.P. Morgan project that gold could move toward $5,000 to $6,000+ per troy ounce in the coming years, with extremely bullish long-term scenarios (looking toward 2030) not ruling out even higher levels.

Buying gold for the long term

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Frequently asked questions

¿Cuál fue el precio más alto del oro en los últimos 10 años?

The record for the highest price of gold (like the record for gold and the record for silver) was set in January 2026. The gold price reached a spectacular level of more than $5,600 per troy ounce.

Which factors had the most influence on the gold price over the past 10 years?

Over the past decade, the gold price has mainly been driven by a powerful interplay of geopolitical turmoil, economic dynamism and changing central bank policies. International conflicts and major events such as the coronavirus pandemic created considerable market uncertainty, leading investors to resort to gold as a trusted safe haven on a large scale. In addition, inflation and interest rate policy played a crucial role. In periods of rising prices and low or even negative real interest rates, physical gold proved to be an attractive way to protect purchasing power against depreciation. This demand from private and institutional investors was also reinforced by a structural trend among central banks, particularly in emerging markets. Over the past decade, they increasingly chose to diversify their foreign exchange reserves and stock up on gold on a large scale, offering the price a long-term and firm lower bound.

How has gold performed over the past 10 years compared to other investments?

Over the past ten years, gold has shown a remarkably strong return. Although gold does not pay dividends or interest, the price increase has not only compensated investors for inflation, but also provided significant capital growth. In doing so, gold acted as an effective hedge (protection) during periods when stock markets were under pressure.

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Every month, your chosen amount is automatically invested at the gold price applicable at that time. This way, you build up a gold reserve step by step, without having to actively trade yourself.

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