Gold price over the past 10 years

View the gold price over the past 10 years (2016 to 2026) here. Discover how the price of gold has developed.

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Gold returns over the past 10 years

The gold price has fluctuated over the past 10 years. There have been periods of volatility, stability and exponential growth.

From 2016 through to 2024, the price of gold per kilogram in British pounds rose fairly steadily, climbing from around £25,000 at the start of 2016 to nearly £67,000 per kilo in 2024. This means that investors who bought gold in 2016 saw their capital more than double over eight years.

In some years, investors could count on annual returns of over 15%, particularly during periods of economic uncertainty. One example of this was the coronavirus pandemic in 2019 and 2020.

After peaking in 2020, the gold price stabilised in the course of 2021, until the war between Russia and Ukraine broke out in 2022. Despite interest rate hikes by central banks, the price of gold rose. Gold remained popular as a safe haven in 2023, driven by ongoing global economic and geopolitical uncertainty.

In 2024, the gold price rose significantly (27% in US dollars in one year, and more than 35% in euros). This was the best annual return since 2010, partly due to high global inflation and interest rate cuts by central banks.

In 2025, the price of gold truly skyrocketed. The surge was driven by ongoing geopolitical tensions, central bank interest rate cuts, and strong demand for gold from central banks.
This trend continues into 2026. At the beginning of 2026, record after record was broken. The record for the highest gold price was set in January 2026, when the price reached over £130,000 per kilo (equivalent to around $5,600 per troy ounce).

Table: gold price 2016 to 2026

The table below shows the highest gold price and annual return for the past 10 years. The annual return is calculated by comparing the gold price on the first working day of the year with the gold price on the last working day of the year.

What is the forecast for the next 10 years?

The forecast for the next 10 years is that the price of gold is likely to rise, driven by factors such as geopolitical tensions, economic uncertainties and increasing demand from central banks, especially from countries such as China and India.

After the gold price surged past the $5,000 threshold (and briefly touched $5,500) at the start of 2026, major investment banks revised their long-term forecasts sharply upwards.

Analysts from institutions including Goldman Sachs, Bank of America, and J.P. Morgan expect that the gold price could move towards $5,000 to $6,000+ per troy ounce over the coming years, with extremely bullish scenarios for the longer term (towards 2030) not even ruling out higher levels.

Buying gold for the long term

Through GoldRepublic, you can easily and securely purchase gold bars from reliable, LBMA-certified smelters, starting from as little as 1 gram of gold or £50 at the current market price. With the automatic savings plan, you can build up your gold reserves step by step, without having to actively trade. This makes it easy to deposit a monthly amount and gradually protect your assets against inflation and economic uncertainties.

Your physical gold is stored securely in heavily guarded vaults in the Netherlands, Switzerland or Germany, including insurance and transparency of ownership. This gives you complete control and flexibility, with the option to sell or adjust your holdings at any time.

Frequently asked questions

What was the highest gold price in the past 10 years?

The record for the highest price of gold (like the record for gold and the record for silver) was set in January 2026. The gold price reached a spectacular level of more than £125,000 per kilogram (approximately $5,600 per troy ounce).

Which factors had the most influence on the gold price over the past 10 years?

Over the past decade, the gold price has mainly been driven by a powerful interplay of geopolitical turmoil, economic dynamism and changing central bank policies. International conflicts and major events such as the coronavirus pandemic created considerable market uncertainty, leading investors to resort to gold as a trusted safe haven on a large scale. In addition, inflation and interest rate policy played a crucial role. In periods of rising prices and low or even negative real interest rates, physical gold proved to be an attractive way to protect purchasing power against depreciation. This demand from private and institutional investors was also reinforced by a structural trend among central banks, particularly in emerging markets. Over the past decade, they increasingly chose to diversify their foreign exchange reserves and stock up on gold on a large scale, offering the price a long-term and firm lower bound.

How has gold performed over the past 10 years compared to other investments?

Over the past ten years, gold has shown a remarkably strong return. Although gold does not pay dividends or interest, the price increase has not only compensated investors for inflation, but also provided significant capital growth. In doing so, gold acted as an effective hedge (protection) during periods when stock markets were under pressure.

Buy gold at a competitive daily price

Through GoldRepublic, you can buy gold bars from reputable, LBMA-certified refiners. You can start investing from €50.

You can also save in gold on a recurring basis. Each month, the amount you choose is automatically invested at the current gold price. This allows you to build your gold reserves step by step, without having to actively manage your investments.

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