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Gold staged its best first half in decades in 2016, surging on Brexit before giving back ground after the US election to finish up about 8%.
Monthly path for 2016, anchored to the real open ($ 1,060.00), the high in July, the low in January, and the close ($ 1,152.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +8.68% versus its 2015 close of $ 1,060.00.
The July high came in the safe-haven surge that followed the UK’s shock Brexit vote.
Gold bottomed in January, just before one of its strongest first halves in decades.
2016 was a year of two halves. In the first half, fears about global growth and negative interest rates abroad drove one of gold’s best six-month runs in decades, culminating in a spike toward $1,375 after the UK’s surprise vote to leave the European Union in June.
The second half reversed much of that. Donald Trump’s unexpected election win in November triggered a surge in bond yields and the dollar on bets of faster growth and inflation, and gold slid back to around $1,152 to close the year up a more modest 8%. It was a vivid lesson in how quickly the macro backdrop can flip.
Gold posted one of its strongest first halves in decades as markets fretted over global growth.
The UK’s shock Brexit vote in June sent gold spiking toward $1,375 in July.
Donald Trump’s November election victory sparked a “reflation” rally that hit gold.
A rising dollar and bond yields pulled gold back into year-end.
The UK’s June 2016 vote to leave the EU shocked markets and sent gold spiking toward $1,375 per troy ounce in July as investors sought safety.
Donald Trump’s victory sparked a “reflation” rally in which bond yields and the dollar jumped, pulling gold lower into year-end.
Gold's 2016 high was about $ 1,375.00 per troy ounce, reached in July.
The average gold price in 2016 was roughly $ 1,251.00 per troy ounce — it opened near $ 1,060.00 and closed around $ 1,152.00.
Gold rose about 8.5% over 2016, between a low of $ 1,073.00 and a high of $ 1,375.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.