per ounce after President Nixon ended the direct convertibility of the U.S. dollar to gold, shifting to a fiat currency system and allowing the price to be determined by the market.
1971-1979: The price increased significantly, driven by inflation and the oil shocks, reaching approximately
per ounce by 1979.
1980: Gold reached its peak for decades, hitting about
per ounce in early 1980.
After 1980: Following the 1980 peak, the price entered a bear market and fell over the next two decades.
2000 to 2010
Gold prices saw significant growth from 2000 to 2010, increasing by over 391%. In early 2000, the price was around
per ounce, and by the end of 2010, it had reached over
