The gold price surged 25% last year when it hit its highest level in nearly 25 years of US$540.90 in December 12, after spending the first eight months in a US$410-US$460 range. The average gold price in 2005 was US$444.75.
The Average Gold Price in 2005 by Quarter
2005 Q1 $427
2005 Q2 $427
2005 Q3 $439
2005 Q4 $485
Notice that nearly all of the gold price rise in 2005 took place in the last quarter, when there was an average price increase of $49 per ounce.
Annual Gold Prices for the past 5 years show that in 2005 the gold price had the biggest annual dollar increase, with an increase of over $80. This is the biggest increase since this gold bull market started in 2001. Although it was only the third largest increase in percentage terms.
|Annual Gold Prices for the Past 5 Years|
|Year||Start||Close||Annual Percentage Change||Change in US$|
Euro Gold Price was up 34.93% in 2005
Japanese Yen Gold Price was up 35.93% in 2005
Important Gold Price Milestones in 2005
- The gold price, which traditionally moves in the opposite direction of the dollar, increased, even though the US$ climbed 15 per cent against the euro.
- The gold price broke out in in all major global currencies.
- The gold price broke above $500, for the first time in 24 years.
- Gold futures Open Interest has shown a contraction with a rising gold price. This has not occurred so far in the past 4 years of this gold bull market and may suggest the shorts are leaving the market.