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Gold News & Press Comments
Gold hit all-time record high on election day May 6th 2010, with 2 record fixes, then broke through £800 per ounce on sterling weakness in late trading, running up to touch £818 per ounce.
On election results day, May 7th 2010, gold fixed at another all time record high of £825.602 per ounce, largely on sterling weakness overnight because of the impending hung parliament.
Gold itself has been in strong demand on fears over Greece, and possible contagion affecting Ireland, Spain, Portugal and Italy.

Other Recent Sterling Highs
Gold hit all-time record highs twice in 2006, and13 times in 2007, at £418.486 beating the previous peak of £371.066 on 21st January 1980, & again on 3rd Jan 2008 at £438.485, when it also hit its US$ high.
It has now broken 19 records in 2008 before the end February!
Indeed gold has broken its all-time sterling high price so many times this year, that we have not had time to keep this page up to date as frequently as we would like.
Although this page is part of our "Press Comments" section, it is remarkable that the UK media seem blissfully unaware of the gold price in sterling. Our website is about the only place you will find comment about gold prices in sterling.
The Times of India unfailingly reports gold price movements in Indian Rupees, even the Chinese press reports gold price news in Renminbi, but the British press only wag their tails at gold prices in US dollars.

Highest Ever Gold Prices in Pounds Sterling - Over £600
On Wednesday 10th May 2006, gold reached its record highest price ever in pounds sterling, the morning London Gold Fix was £378.249, beating the previous peak of £371.066 on 21st January 1980, although in US dollars it is still 15% below its $850 peak.
As at Friday 12th May, gold had retained this strong price, trading between about £380 and £387 per troy ounce, the highest fix being £382.739 on the Friday morning fix of 12th May.

29th October 2007
The London a.m. fix on 29th October 2007 was £385.12 in pounds sterling, a new all time record high. This fixing price in US dollars was $792.50 and in euros €549.851.

2007 - A Record Year for Sterling Gold
By the 28th December 2007, with one final trading day left this year, gold reached its 14th record all-time high, and as we wrote this, was trading at over $419 per ounce, so it looks at though it might hit yet another record on new year's eve.

2008 Starts With More Records
The first trading day of 2008 started with not one, but two all-time record high gold prices in sterling. If our gut-feeling is correct, these will be the first of many.

Media Myopia
Yet again, we have seen no mention of the record prices in the UK media, which seems to be quite myopic, and only looks at the US dollar price of gold. When this hits $850, we predict there will be universal proclamation of it. This magic figure might be broken before the end of 2007. Forecasts of gold prices for 2008 are bound to include $900, $950, and $1,000 or more.

Sick Sterling
One thing that these recent sterling gold highs does underline is the weakness of the pound sterling, which has fallen over 5% against the euro in the last few weeks. and 4% against the US dollar. Since 1980, sterling has dropped by almost 10% against the greenback. The exchange rate at the 21st January 1980 afternoon fix was $2.207104; at today's (28th December 2007) afternoon fix, it was $1.993325.

Yet Again!
Shortly after we finished updating this page on 20th February 2008, gold shot up yet again in late trading, by about £10 per ounce, and hitting new record highs in all three gold fixing currencies.

And Again!
On 21st February 2008, gold broke all three currency price records yet again, at £482.759; $945.00; and €641.200 per ounce on the afternoon London Fix. Intraday trading was even higher at over $950, breaking another magic psychological barrier. Next stop $1,000?

Getting Repetitive
We last checked this page was up to date May 2014.

Quick Summary Table
Entries in bold face signify a record high in that currency.
DateFixPrice £Price $Price €
21st January 1980P.M.£371.066$850.00N/A
10th May 2006A.M.£378.249$704.30€551.052
12th May 2006A.M.£382.739$725.75€561.378
29th Oct 2007A.M.£385.12$792.50€549.851
5th Nov 2007A.M.£385.391$802.50€554.941
5th November 2007P.M.£386.713$804.75€555.728
6th November 2007A.M.£392.129$817.56€562.973
6th November 2007P.M.£393.767$822.50€564.710
7th November 2007A.M.£400.471$841.75€573.555
26th November 2007A.M.£404.083$836.25€562.639
21st December 2007A.M.£404.677$803.00€558.881
21st December 2007P.M.£408.704$810.50€558.881
24th December 2007A.M.£409.176$810.25€562.986
27th December 2007A.M.£413.628$822.50€567.555
27th December 2007P.M.£416.436$829.00€569.251
28th December 2007P.M.£418.271$833.75€567.331
2nd January 2008A.M.£424.806$840.75€573.343
2nd January 2008P.M.£427.824$846.75€576.452
3rd January 2008A.M.£438.485$865.35€587.275
8th January 2008A.M.£441.571$873.25€593.805
8th January 2008P.M.£442.032$873.50€593.289
9th January 2008A.M.£452.154$887.85€603.528
11th January 2008A.M.£457.559$893.75€604.743
14th January 2008A.M.£464.317$911.50€612.156
25th January 2008A.M.£465.278$921.25€625.637
29th January 2008A.M.£466.549$927.5€627.75
01th February 2008A.M.£468.75$933€627.058
08th February 2008A.M.£468.958$914€631.172
08th February 2008P.M.£471.104$916.25€632.682
11th February 2008P.M.£471.979$918€633.278
11th February 2008A.M.£474.372$925.5€635.908
12th February 2008P.M.£467.619$917€628.556
12th February 2008A.M.£472.602$920.25€634.043
19th February 2008P.M.£473.676$924€626.951
20th February 2008A.M.£475.575$924.85€628.679
21st February 2008A.M.£482.032$943.00€639.756
21st February 2008P.M.£482.759$945.00€641.200
28th February 2008A.M.£483.089$957.00€634.069
29th February 2008A.M.£488.875$969.00€637.584
29th February 2008P.M.£488.854$971.50€640.071
3rd March 2008A.M.£492.697$978.25€644.943
3rd March 2008P.M.£496.684$988.50€647.857
17th March 2008A.M.£508.511$1,023.50€649.511
8th October 2008A.M.£523.209$913.00€669.748
10th October 2008A.M.£542.810$918.00€675.845
24th November 2008A.M.£544.500$816.75€645.040
24th November 2008P.M.£546.875$822.50€642.879
11th December 2008A.M.£548.613$821.00€624.620
11th December 2008P.M.£554.495$827.75€624.011
17th December 2008P.M.£561.943$870.00€606.441
18th December 2008A.M.£566.375$872.50€602.307
22nd December 2008A.M.£570.465$846.00€602.307
22nd December 2008A.M.£573.145$849.00€606.515
29th December 2008A.M.£601.283$881.00€616.299
29th December 2008P.M.£601.798$880.25€616.551
20th January 2009P.M.£612.307$853.25€661.383
21th January 2009A.M.£624.592$860.50€666.022
22nd January 2009P.M.£626.138$860.00€663.376
23rd January 2009A.M.£644.233$873.00€681.339
26th January 2009A.M.£653.821$906.50€699.676
26th January 2009P.M.£656.646$910.25€691.627
12th February 2009A.M.£666.337$944.00€737.039
17th February 2009A.M.£674.932$962.25€761.515
17th February 2009P.M.£678.584$968.00€766.976
18th February 2009A.M.£680.648$964.75€767.014
19th February 2009P.M.£684.133$980.50€771.561
20th February 2009A.M.£687.201$981.00€778.201
20th February 2009P.M.£690.353$989.00€782.437
20th November 2009A.M.£690.833$1142.50€768.067
20th November 2009P.M.£691.035$1140.00€768.298
23th November 2009A.M.£702.410$1166.00€778.527
23th November 2009P.M.£702.867$1169.50€780.083
24th November 2009A.M.£708.813$1170.25€782.933
26th November 2009A.M.£714.458$1183.00€784.223
26th November 2009P.M.£716.297$1182.75€787.240
2nd December 2009A.M.£727.104$1211.50€802.105
2nd December 2009P.M.£727.922$1212.50€804.312
3rd December 2009A.M.£731.594$1218.25€805.455
26th February 2010A.M.£728.50$1112.50€817.594
26th February 2010P.M.£731.18$1108.25€816.932
1st March 2010A.M.£742.94$1117.25€819.94
1st March 2010P.M.£746.149$1114.00€824.269
2nd March 2010A.M.£747.438$1116.00€826.973
2nd March 2010P.M.£752.857$1126.50€831.243
3rd March 2010A.M.£755.536$1136.25€834.067
8th April 2010P.M.£755.810$1148.00€861.215
28th April 2010A.M.£767.924$1164.25€884.285
29th April 2010A.M.£768.877$1170.00€883.686
30th April 2010P.M.£773.076$1179.25€887.388
4th May 2010A.M.£779.00$1184.25€901.462
4th May 2010P.M.£782.798$1185.00€907.281
6th May 2010A.M.£783.088$1178.00€922.764
6th May 2010P.M.£787.385$1185.25€928.807
7th May 2010A.M.£825.602$1199.60€941.823
12th May 2010A.M.£831.825$1241.25€977.901
12th May 2010P.M.£832.213$1237.50€974.409
13th May 2010A.M.£836.664$1235.00€982.811
13th May 2010P.M.£841.150$1237.50€985.270
14th May 2010A.M.£852.664$1238.75€993.304
17th May 2010A.M.£852.682$1230.25€999.553
17th May 2010P.M.£854.772$1236.00€998.949
8th Jun 2010A.M.£867.450$1248.00€1048.030
9th Nov 2010P.M.£879.386$1421.00€1018.780
30th Nov 2010A.M.£885.098$1375.00€1056.070
30th Nov 2010P.M.£890.856$1383.50€1063.820
2nd Dec 2010P.M.£891.413$1389.00€1053.470
3rd Dec 2010P.M.£894.861$1403.50€1051.310
6th Dec 2010P.M.£903.101$1415.25€1065.860
28th Dec 2010A.M.£912.43$1403.50€1069.900
28th Dec 2010P.M.£914.535$1412.50€1075.370
18th April 2011P.M.£917.076$1493.00€1046.25
19th April 2011A.M.£917.966$1495.00€1047.580
20th April 2011A.M.£920.152$1505.00€1037.930
3rd May 2011A.M.£938.126$1546.50€1045.220
24th May 2011A.M.£942.224$1520.75€1078.850
24th May 2011P.M.£944.867$1527.00€1082.670
10th June 2011A.M.£945.689$1541.00€1064.450
20th June 2011A.M.£950.878$1537.00€1079.660
21st June 2011A.M.£953.941$1543.00€1077.210
22nd June 2011A.M.£957.276$1546.00€1074.360
22nd June 2011P.M.£962.731$1552.50€1077.380
23rd June 2011A.M.£964.040$1541.50€1081.150
11th July 2011A.M.£966.318$1543.50€1092.120
11th July 2011P.M.£976.705$1555.50€1106.880
12th July 2011P.M.£977.001$1555.50€1107.340
13th July 2011A.M.£984.711$1571.50€1114.620
13th July 2011P.M.£988.358$1579.00€1121.050
18th July 2011A.M.£992.825$1598.25€1136.330
18th July 2011P.M.£994.279$1599.00€1136.700
25th July 2011A.M.£995.020$1618.50€1126.620
1st August 2011P.M.£996.378$1623.00€1137.190
2nd August 2011A.M.£997.298$1624.00€1145.280
2nd August 2011P.M.£1005.800$1637.75€1147.370
3rd August 2011A.M.£1016.770$1667.50€1163.400
3rd August 2011P.M.£1019.020$1669.25€1166.570
4th August 2011P.M.£1028.280$1679.50€1186.170
8th August 2011A.M.£1040.944$1709.75€1195.211
9th August 2011A.M.£1080.982$1770.00€1241.757
10th August 2011A.M.£1082.027$1753.75€1219.067
10th August 2011P.M.£1094.706$1772.00€1246.921
11th August 2011A.M.£1105.745$1786.00€1254.390
18th August 2011P.M.£1109.759$1824.00€1276.149
19th August 2011A.M.£1126.914$1862.00€1299.281
22nd August 2011A.M.£1139.550$1877.75€1303.179
2nd September 2011A.M.£1143.809$1854.00€1301.235
2nd September 2011P.M.£1157.562$1854.00€1318.927
5th September 2011A.M.£1174.667$1896.50€1341.136
5th September 2011P.M.£1178.922$1895.00€1345.594

Error Check
On 11th May 2010, we noticed that the a.m. fixes in euros on 2nd and 3rd December 2009 were shown as being identical at 802.105.
While this could be a coincidence, we believe it is more likely to be an error, and have asked the LBMA to check this. On 19th May, we heard that the 3rd December euro price had been recorded incorrectly, and had now been corrected to 805.455.

Record High Gold Price in US Dollars
The previous all-time record high gold price in US dollars was reached on 21st January 1980, fixing at $850.00 on that day's p.m. fix.
This morning (12th May 2006), gold fixed at $725.75, a 25 year record, but still 15% below the highest recorded dollar price. Many now believe that it is only a matter of time before gold hits its all time high in US dollars also (now beaten - 3rd January 2008), perhaps on its way to $1,000+. Who knows? We certainly would not want to bet against it!

Highest Gold Price in Euros (EUR)

Record High in Beijing
The record price in Chinese Yuan was achieved on Tuesday 4th April 2006, according to the Beijing Daily newspaper, hitting 170 yuan per gram (21.25 dollars).
"Gold has never been sold at such a high price in Beijing," said Wang Jian, general manager of the Gongmei Mansion Gold Store, told the paper. "I doubt whether consumers will hesitate to buy gold ornaments now," he said.
Gold dealers in China's capital reacted cautiously in raising prices, fearing a drop in sales despite the fact that prices in southern China had surged to 178 yuan (22.25 dollars) per gram.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization. Last year Chinese demand for gold rose 8 percent to more than 250 tons

Where Next?
Where does it go from here?
Gazing into our crystal ball, we would be surprised if it did not go on to break the all-time high in US dollars before too long.

Why? & Where Next?
October 2009.

Highest Gold Prices Summary in 3 Currencies
Simplified table with only the latest peak prices shown.

Lowest Recent Gold Price

Bull Market?
Does the drop after this price peak mean an end to the gold bull market, we believe not, more of a correction.

Scrap Gold Prices

Highest Historical Silver Bullion Price & Lowest Recent Silver Price
The all-time high price for silver was hit on 18th January 1980 at $49.45 (21.65) per troy ounce fuelled by Nelson Bunker Hunt's cornering of the market.
Silver then hit a post Bunker Hunt low of $3.54750 or £1.83250 per ounce on 25th February 1991.
In late 2010, silver has broken through a 30 year high of $30 per ounce.

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