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Gold gained about 5% in a choppy 2004, supported by a weak dollar and the launch of the first US gold ETF.
Monthly path for 2004, anchored to the real open ($ 416.00), the high in December, the low in May, and the close ($ 438.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +5.29% versus its 2003 close of $ 416.00.
2004 was a consolidation year with a landmark event. After 2003’s strong gains, gold spent much of the year ranging, dipping to about $375 in the spring before a weak dollar lifted it again. The defining moment came in November with the launch of the first US-listed gold ETF, which made owning gold as easy as buying a stock.
That innovation would reshape gold demand for years to come. The metal closed 2004 near $438, up a modest 5%, but the groundwork for the next leg higher had been laid.
The first US-listed gold ETF (GLD) launched in November, opening gold to a new wave of investors.
A persistently soft US dollar underpinned prices.
Gold dipped to around $375 in May before recovering.
It finished the year near $438, a fresh multi-year high.
The first US-listed gold ETF (GLD) let ordinary investors buy gold as easily as a share, opening the metal to vast new demand and reshaping the market.
Gold gained about 5%, closing near $438 per troy ounce after a choppy year.
Gold's 2004 high was about $ 454.00 per troy ounce, reached in December.
The average gold price in 2004 was roughly $ 409.00 per troy ounce — it opened near $ 416.00 and closed around $ 438.00.
Gold rose about 5.5% over 2004, between a low of $ 375.00 and a high of $ 454.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.