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Gold rose about 6% in 2012, its twelfth straight annual gain, as the Fed launched QE3 and Europe’s debt crisis rumbled on.
Monthly path for 2012, anchored to the real open ($ 1,590.00), the high in October, the low in May, and the close ($ 1,675.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +7.03% versus its 2011 close of $ 1,565.00.
The October high followed the Federal Reserve’s announcement of open-ended QE3 stimulus.
The May low came in a mid-year dip as the eurozone debt crisis flared.
2012 was the final year of gold’s historic twelve-year winning streak. The European debt crisis and a third round of Federal Reserve quantitative easing, announced in September, kept gold elevated, and it pushed up toward $1,790 in October.
But momentum was fading. After peaking, gold drifted back to close the year around $1,675, up a relatively modest 6%. Few realised that this gentle consolidation near record highs was the calm before 2013’s storm, which would shatter the long bull market.
The Federal Reserve announced open-ended QE3 stimulus in September.
Europe’s sovereign-debt crisis continued to drive safe-haven demand.
Gold reached a yearly high near $1,790 in October.
It marked gold’s twelfth consecutive annual gain — the end of an era.
Gold rose for twelve consecutive years through 2012, an extraordinary streak that ended with the 2013 crash.
QE3 was the Federal Reserve’s open-ended bond-buying program announced in September 2012; the extra stimulus supported gold, helping it reach about $1,790.
Gold's 2012 high was about $ 1,790.00 per troy ounce, reached in October.
The average gold price in 2012 was roughly $ 1,669.00 per troy ounce — it opened near $ 1,590.00 and closed around $ 1,675.00.
Gold rose about 5.7% over 2012, between a low of $ 1,540.00 and a high of $ 1,790.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.