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Gold drifted about 6% lower in 2000, near the tail end of its long bear market, as the dot-com mania kept investors focused on stocks.
Monthly path for 2000, anchored to the real open ($ 290.00), the high in February, the low in October, and the close ($ 273.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold fell -5.86% versus its 1999 close of $ 290.00.
2000 found gold in the doldrums. With the dot-com mania near its peak in the early months and the US dollar strong, investors saw little reason to hold a metal that had done nothing but disappoint for two decades. Gold drifted lower through the year to a low around $263.
It closed near $273, down about 6%, with sentiment as bleak as it had been in a generation. Yet the very gloom that gripped gold marked the approaching end of its bear market — the bottom was now just months away.
The dot-com bubble was still inflating early in the year, drawing money away from gold.
A strong US dollar and booming equities left little appetite for the metal.
Gold slid to a low near $263 in October.
It closed the year around $273, still mired in its long bear market.
The dot-com stock mania and a strong US dollar kept investors away from gold, which drifted about 6% lower near the end of its long bear market.
Gold fell to roughly $263 per troy ounce in October 2000.
Gold's 2000 high was about $ 313.00 per troy ounce, reached in February.
The average gold price in 2000 was roughly $ 279.00 per troy ounce — it opened near $ 290.00 and closed around $ 273.00.
Gold fell about 5.9% over 2000, between a low of $ 263.00 and a high of $ 313.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.