December 28, 2023

LBMA London Gold Price breaks all time record as year draws to a close.

The LBMA London Gold Price hit an all-time record high at $2078.40 per troy ounce at today's afternoon auction. The price exceeded the previous record, established on 6th August 2020 (p.m.), of $2067.15 by $11.25.

The new record price continues gold’s rapid rise through 2023. The metal price opened the year on 3 January at $1835.05 (a.m.) and has gained $243.35, or 13.26%, to this afternoon. The price has risen some 636.9% since the beginning of this century ($282.05 - 4th January 2000).

“I can think of no clearer demonstration of gold’s role as a store of value than the enthusiasm with which investors across the world have turned to the metal during the recent economic and geopolitical turmoils,” said Ruth Crowell, CEO, LBMA. “Gold continues to be the safe-haven of choice in periods of uncertainty and high volatility.”

The first London gold price auction, the formal, globally recognized price - now known as the LBMA Gold Price - took place on September 12, 1919.