The Topsy-Turvy Price of Gold

The rise in the price of gold over the past few years is almost unbelievable.  If you look at a graph that charts the price of gold over the last 10 years you can see a meteoric rise in the gold price.

In 2002, one troy ounce of gold would sell for around US$300.  Apart from a sharp downturn around 2008 when the financial crisis first hit, the rise in the price of gold has been fast and consistent.

Gold is now trading at over US$1700 per troy ounce.

Silver has also mirrored the rise in the price of gold over the past decade.  2002 saw the price of silver hovering around US$5 per ounce.  Nowadays the price of silver is well over US$30 per troy ounce. Continue reading →