Price of Gold in 2006

Gold prices peaked and then plummeted in the middle of 2006 as investors poured money into commodities, and then withdrew interest. The market faced a weak US dollar, high oil prices and political tensions over Iran’s nuclear ambitions.

For full details of the price of Gold in 2006 and a full comparison of spot prices throughout the year, view our charts below.

Gold Prices 2006 Chart

What Impacted Gold Prices in 2006?

Gold prices in 2006 hit their highest level in over 25 years, attributed to a number of things, including economic growth in China and India, both of which are significant buyers of gold jewelry, fears of inflation, and consistently high oil costs.

Speculative buying was also common, with investors attracted to the metal by its rising price. Although increasing energy prices contributed to a rise in general inflation, which gold is frequently used to hedge against, price rises remained low by historical standards.

In May, gold prices peaked at $730 an ounce – a 26-year peak – as investment increased. By June, however, the price plummeted to just $543 as investors and speculators sold out of their commodity positions.

By the end of the year, gold prices were back up in the US$600 an ounce range.

Daily Gold Prices (Chart)

To find the daily prices for Gold in this year, use the date filters in the chart above.

The information provided here is for educational purposes only and should not be used for speculation and investment purposes. CanAm does not guarantee that the prices shown here are correct, up-to-date, or complete, and we are not responsible for inaccuracies or omissions in this price data.

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Gold bullion is a popular way to invest in gold, particularly when it is 99.9% pure, and it is generally much more secure than paper gold. Bullion includes gold bars, which are available in various sizes, as well as coins and rounds. The United States American Gold Eagle and the Canadian Gold Maple Leaf are some of the most popular coins.

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