Historical gold price

Gold has gone through spectacular price cycles over the past half-century. After the end of the gold standard in 1971 (Nixon shock), the price rose from $35/oz to $850/oz in 1980. After two decades of correction ($252/oz in 1999), gold entered a super-cycle that took it to $1,920/oz in 2011, then to an all-time high of over $2,400/oz in 2024.

In Swiss francs, the history is even more striking. The relative strength of CHF against USD has dampened some dollar-based rises, but the long-term trend remains clearly bullish over 50 years. A Swiss investor who bought gold in 2000 (around CHF 15/g) would see their investment multiplied by 5 to 6 today — outperforming Swiss real estate over the same period.

Factors that influence the gold price long-term are: real interest rates (negative = bullish for gold), inflation, central bank purchases (the SNB holds ~1,040 tonnes), geopolitical tensions, and physical demand (jewellery + investment). The historical chart helps identify cycle patterns and spot long-term support/resistance zones.