Price of Gold in 2020

The price of gold increased by 28% in 2020 due to risk aversion, safe-haven buying, and economic and financial uncertainty generated by COVID-19 disruptions.

With the charts below, you can see how the spot price of Gold changes throughout 2020.

Gold Prices 2020 Chart

What Impacted Gold Prices in 2020?

In 2020, the price of gold reached a record high as investors scrambled to protect their wealth in the wake of the global coronavirus outbreak and the extraordinary flow of money provided by government stimulus.

Early in the year, gold prices fell as the economic uncertainty of the coronavirus outbreak weighed heavily on investors’ minds. The price of spot gold dropped to a seven-month low in March.

However, demand from investors increased, and gold bullion sales alone increased by 10% in the fourth quarter.

On the other hand, demand for gold jewelry hit an all-time low in 2020, unable to overcome the ongoing difficulties caused by COVID-19. And demand for gold by central banks also decreased in 2020 by over 60%.

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.

How to Invest In Gold

There are two options for investing in Gold: buying the metal itself, or on paper. Physical gold is gold you can touch, such as bars and coins. Paper gold is a representation of gold, such as ETFs, futures contracts or options. Here are some things you need to consider about both of these:

•   Gold in its physical form is rare.
•   Actual gold bars have been used as money for millennia. Paper gold can’t be used as money.
•   Physical gold is not directly linked to a country’s monetary system, even though certain governments issue gold coins and bars.
•   In times of geopolitical turmoil, paper gold prices could fluctuate.
•   Holding actual gold allows instant access and the ability to transfer wealth to loved ones.
•   Even if paper gold does give you some exposure to the gold market, it lacks the physical qualities of “real” gold that you can handle in your hand.
•   Paper gold may be cheaper than actual gold.

Buy Gold Online with CanAm

Investing in pure Gold bars or Gold bullion is a great way to diversify your holdings, and it’s easy to see why Gold is one of the most sought-after precious metals on the market today.

CanAm promises first-rate assistance through the buying of bullion. Pricing is transparent and honest, and you can trust that your purchase will arrive at your door in one piece. If you’re concerned about your investment options, don’t wait to contact our specialists.