Since 1945, the price of gold has fluctuated between 35 and 1,746 USD, representing a net change of 3,800 percent. The forces of demand and supply have influenced most of these price changes.Continue Reading
Although traders have used gold as a form of currency throughout history, economic regions did not peg a universal value to gold until the late 19th century. In the early 1900s, companies that traded in gold fixed a standard price by holding daily meetings. After the Second World War, European countries placed the value of a troy ounce of gold at 35 USD. The value of an ounce of gold rose to 37 USD in 1970. In subsequent years, the dollar value of gold increased steadily and reached an all-time high of 1,746 USD in 2012.