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Gold rose about 25% in 2002 — its first big year of the new bull market — as the dollar peaked and stocks slumped after the dot-com crash.
Monthly path for 2002, anchored to the real open ($ 279.00), the high in December, the low in January, and the close ($ 348.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +25.63% versus its 2001 close of $ 277.00.
2002 was the year gold’s great bull market truly began. With the dollar topping out, the post-dot-com stock slump deepening, and war clouds gathering over Iraq, investors rediscovered gold as a hedge after twenty years of neglect. The metal broke above $300 for the first time since 1999.
Gold gained roughly 25% over the year, its strongest performance in over two decades, and closed near $348. The long, painful bottom of the 1990s was finally behind it.
The US dollar peaked and began a multi-year decline.
A deepening bear market in stocks after the dot-com bust pushed investors toward gold.
Geopolitical tension built ahead of the Iraq war.
Gold broke decisively above $300 for the first time since 1999.
A peaking dollar, a deep stock-market slump after the dot-com crash, and pre-Iraq-war tension drove gold up about 25% — the start of its bull market.
Gold broke back above $300 per troy ounce in 2002 for the first time since 1999.
Gold's 2002 high was about $ 349.00 per troy ounce, reached in December.
The average gold price in 2002 was roughly $ 310.00 per troy ounce — it opened near $ 279.00 and closed around $ 348.00.
Gold rose about 24.7% over 2002, between a low of $ 278.00 and a high of $ 349.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.