Recently, the world has witnessed an unprecedented surge in the demand for gold. Central banks and other institutions globally are purchasing gold at record-high prices, reflecting a significant shift in the market. This note aims to present a coherent narrative through data, allowing readers to draw their own conclusions about the implications of these trends. Due to the scattered nature of the relevant data, this document has been meticulously compiled to aggregate essential information in one unified resource. Our goal is to provide a comprehensive overview that highlights the broader implications of the current gold price hike.
Gold Price Trends
The chart below displays the price trajectory of gold from calendar year 2010 (CY-10) through to the end of 2023 (CY-23). It is important to note that this chart does not reflect the most recent spike in gold prices during CY-23, where they soared to an all-time high of USD 2,300 per ounce. This recent escalation is beyond the scope of the displayed data.
