Follow the Value of Gold with This Comprehensive Look at Historic Prices
We all have a fascination with gold – whether it’s its iconic use in jewellery, its glamorous allure, or just the way it looks. But what really matters is its value because you can sell gold and earn profits – and that’s why you’re here. The price of gold has historically been a powerful indicator of economic performance and an integral part of investment portfolios. 

Historical View of Gold Prices

By looking at gold through this lens, we can understand the highest price of gold in history occurred on August 6, 2020, when the price of gold reached $2,067.15 per ounce in the international market. The price surge was driven by global economic uncertainty caused by the COVID-19 pandemic, as investors sought the safe-haven asset of gold as a store of value.

Prior to this, the previous record high for gold was set in September 2011, when the price of gold reached $1,921.17 per ounce, also driven by economic uncertainty and the European debt crisis.

It is important to note that gold prices can fluctuate widely over time based on a range of factors, including economic conditions, political instability, supply and demand dynamics, and investor sentiment, among others.

Gold Prices in Canada: The Past, Present & Future

In Canada, gold prices hit an all-time high of approx. $2,000 CAD per ounce in 2020-2021. That's a huge price spike compared to other times in history when gold prices were much lower.

Gold price & Silver price in Canada have held steady during recent decades, with some small ups and downs. After increasing by 2.6 percent in 2008, the Producer Price Index for gold surged by 12.8 percent in 2009 as the U.S. Federal Reserve intensified its initial program of quantitative (or monetary) easing and the country was engulfed in the Great Recession's economic and financial woes.

 A single troy ounce contains approximately 31.1 grams (1.005882 avoirdupois ounces) and typically comes in the form of coins or bullion bars. Gold bar investments can be successful, but you should research prior prices before making a choice.

As such, the highest spot price of gold in history is subject to change in the future.