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The COVID year: gold crashed in March’s liquidity panic, then surged to its first-ever close above $2,000, gaining about 25%.
Monthly path for 2020, anchored to the real open ($ 1,520.00), the high in August, the low in March, and the close ($ 1,898.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold rose +25.12% versus its 2019 close of $ 1,517.00.
Gold hit a then-record in August, powered by pandemic stimulus, near-zero rates, and collapsing real yields.
The March low came in the COVID liquidity crash, when investors sold even gold to raise cash.
2020 was one of the most dramatic years in gold’s history. As the pandemic struck in March, a scramble for cash briefly sent gold tumbling to about $1,472 alongside crashing stocks. But the response — near-zero interest rates and trillions in stimulus — set the stage for an explosive recovery.
Gold roared back to a record near $2,067 by August, closing above $2,000 for the first time ever, before easing into year-end around $1,898. The roughly 25% annual gain cemented gold’s reputation as the premier crisis hedge and rewrote its all-time price record.
The COVID-19 pandemic triggered a March liquidity crash that briefly dragged gold down with everything else.
Unprecedented monetary and fiscal stimulus then ignited a historic rally.
Gold set a new all-time high near $2,067 in August and closed above $2,000 for the first time.
Collapsing real interest rates made non-yielding gold especially attractive.
Gold reached a then-record high of about $2,067 per troy ounce in August 2020, its first move above $2,000.
A pandemic-driven dash for cash forced investors to sell even safe assets like gold to raise liquidity, briefly pushing it down before a historic rebound.
Gold's 2020 high was about $ 2,067.00 per troy ounce, reached in August.
The average gold price in 2020 was roughly $ 1,770.00 per troy ounce — it opened near $ 1,520.00 and closed around $ 1,898.00.
Gold rose about 25.1% over 2020, between a low of $ 1,472.00 and a high of $ 2,067.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.