Over the last two years we have seen both up swings and down swings in gold prices from month to month and day to day. The good news is that overall the price finished on the upside.
The average London gold price for each quarter of 2008 was:
2008 Q-1 - $ 923.60
2008 Q-2 - $ 896.15
2008 Q-3 - $ 870.90
2008 Q-4 - $ 798.39
Overall 2008 average price was $872.26
The average London gold price for each quarter of 2009 was:
2009 Q-1 - $ 907.805
(An increase of 13.704% from the last quarter of 2008)
2009 Q-2 - $ 921.087
(An increase of 1.463% from the first 2009 quarter)
2009 Q-3 - $ 959.924
(An increase of 4.217% from the second 2009 quarter)
2009 Q-4 - $ 1,100.096
(An increase of 14.602% from the third 2009 quarter)
The overall average London gold price for 2009 was $ 972.228 which is an increase of 11.46% from the 2008 average of $872.26 per ounce.
The final gold price at the end of Quarter 4 of 2009 was (spot-market) $1,096.20 an ounce. The final closing price saw gold end the year at a gain of $218 over 2008. However the average was just over $972 for the year. During 2009 Gold also hit an all time high of above $1,220 per ounce on December 3 2009
Other precious metals also staged equally impressive gains after the 2008 deep decline. Platinum rose a record 58.7 percent and palladium was up 220 percent on improving economic conditions, as well as hope for a boost in physical demand from new U.S. exchange traded funds expected to launch soon. Silver also jumped by a record 49.1 percent.