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Gold surged about 28% in 2010, breaking above $1,400 for the first time as the European debt crisis erupted and the Fed launched QE2.
Monthly path for 2010, anchored to the real open ($ 1,097.00), the high in December, the low in February, and the close ($ 1,405.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +28.19% versus its 2009 close of $ 1,096.00.
The December high — gold’s first move above $1,400 — came on QE2 and deepening European debt fears.
Gold’s low came in February, early in a year of record-setting gains.
2010 was a powerful year in gold’s bull market. The eruption of Europe’s sovereign-debt crisis, starting with Greece, sent investors searching for safety, while the Federal Reserve’s second round of money-printing (QE2) stoked fears about the dollar’s value.
Against that backdrop gold climbed relentlessly, setting record after record and breaking above $1,400 for the first time in December. It closed the year around $1,405, up nearly 28% — momentum that would carry it to its 2011 peak.
Europe’s sovereign-debt crisis flared, beginning with Greece in the spring.
The Federal Reserve launched a second round of quantitative easing (QE2) in November.
Gold broke above $1,400 per ounce for the first time in December.
Persistent dollar weakness and low rates fueled steady record-setting gains.
Gold broke above $1,400 per troy ounce for the first time in December 2010.
The European debt crisis, a second round of Federal Reserve quantitative easing, and a weak dollar drove gold up nearly 28%.
Gold's 2010 high was about $ 1,421.00 per troy ounce, reached in December.
The average gold price in 2010 was roughly $ 1,225.00 per troy ounce — it opened near $ 1,097.00 and closed around $ 1,405.00.
Gold rose about 27.7% over 2010, between a low of $ 1,058.00 and a high of $ 1,421.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.