Lowest Recent Gold Price
Lowest Gold Prices in Recent Times
In dollar pricing the lowest gold price reached recently was on 3 Dec 2015 where the fix on the morning was £1050.60
The lowest sterling gold price of recent times was £694.186 set on the morning of 31st July 2015.
Prior to this the last memorable gold price low was set in dollars on the afternoon fix on 20th July 1999 when gold fixed at $252.80 US equivalent at the time to £161.091 in pounds sterling
Lowest Sterling Fix
The lowest recent gold price in pounds sterling based on the London Gold Fix was £157.033 on the a.m. fix of 10th September 1999, which was equivalent to $256.20 USD.
The reason there are two different "lows" is due to the differences in exchange rates on the relevant dates.
Anybody buying gold near its recent year "bottom" in 1999, could have sold at 2 1/2 times their cost price in May 2006 for a 150% profit. Not bad for a "defensive" investment!
Profit Update November 2010
The same investor buying gold at the 1999 bottom, could sell at 5.5 times his dollar cost in November 2010.
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