Calculating Historical Gold Price
First discovered in North Africa or the Middle East – possibly as early as 40,000BC – gold is undoubtedly the most precious of metals. When the tomb of the Egyptian King Tutankhamun was excavated in 1922, the British archaeologist Howard Carter commented that every item he could see was either gilded with or completely made from solid gold. Gold has had numerous uses throughout history because it is incredibly durable and undeniably beautiful due to its deep rich colour. For thousands of years it was used to produce currency, jewellery and various artifacts. Today it is mostly used to produce jewellery, luxury items, investment products and electrical components.
Although the value of gold declined sharply between the years of 2011 and 2015 – when it hit an all-time high of $1,900.00 per ounce before dropping to $1,000.00 – its worth has consistently increased since records began. In the early 1800s, an ounce of gold would have cost you $20.00; by the start of 2019 you would have had to pay $1,300.00. To show you how strong gold is as an investment opportunity, $10,000.00 invested in 1978 would be worth more than $65,000.00 by 2018. If you had purchased $10,000.00 worth of gold in 2008 at $800.00 per ounce and cashed in when it hit $1,900.00, you would have made in less than three years more than $13,500.00 in profit.
Gold will always be a valuable commodity and gold investment will always be a realistic money making opportunity; if you purchase at the right time and prudently build your portfolio, you should eventually see a healthy return on your investment. Even as recently as 2005 you could have purchased an ounce of gold for approximately $450.00; you could have then sold it six years later for more than four times that amount. The BGO gold investment calculator will allow you to compare how gold has performed from 1968 through to the present day; you will be able to see the profits you could have made by investing your money in gold at different times over the last 50-plus years.