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Gold jumped about 31% in 2007 as the US subprime crisis erupted, the Fed began cutting rates and the dollar slid to record lows.
Monthly path for 2007, anchored to the real open ($ 636.00), the high in November, the low in January, and the close ($ 833.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +30.97% versus its 2006 close of $ 636.00.
2007 was the year the great financial crisis began to take shape, and gold sensed it early. As cracks spread through the US subprime-mortgage market and the credit system seized up, the Federal Reserve pivoted to cutting interest rates in September. A tumbling dollar, falling to record lows against the euro, added fuel.
Gold responded with one of its strongest years of the decade, climbing roughly 31% from around $636 to $833 and pressing back toward the long-standing 1980 record near $850. The stage was set for the dramatic events of 2008.
The US subprime-mortgage crisis broke into the open during the summer of 2007.
The Federal Reserve started cutting interest rates in September as credit markets froze.
The US dollar fell to record lows against the euro, lifting dollar-priced gold.
Gold climbed back toward its 1980 record, reaching about $841 by November.
The unfolding subprime crisis, the Federal Reserve’s rate cuts, and a record-weak US dollar combined to drive gold up about 31%.
Gold reached roughly $841 per troy ounce in November 2007, closing in on its 1980 record.
Gold's 2007 high was about $ 841.00 per troy ounce, reached in November.
The average gold price in 2007 was roughly $ 695.00 per troy ounce — it opened near $ 636.00 and closed around $ 833.00.
Gold rose about 31.0% over 2007, between a low of $ 608.00 and a high of $ 841.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.