This chart shows the 5 year gold price in EUR per ounce. If you would like to view the five year gold price in a different currency, weight, time period or even metal then please use the drop down options below to view the chart of your choice.
Five year gold price
Our five year gold price chart is a great tool to help you to track the value of your gold holdings. Many people like to use such charts as a way to decide when is the best time to buy gold bullion.
Many people ask ‘should I buy gold now’ because they are looking at the five year gold price chart and hoping it will show some indicators that say if now is a good time to buy or not. There is a misperception that choosing to buy today over tomorrow or this month over next month could make for a less or more expensive purchase, thereby determining a profit or loss making investment. The harsh reality is that the gold price does not move so dramatically that a $10 difference in the purchase price from one day to the next is going to make such a big difference to your holdings.
When trying to decide when the best time to buy gold is there are a number of factors that you should take into account, but for us there is one question you should always lead with ‘When is the best time not to own gold?’
Afterall, consider the reasons why we choose to own gold bars and coins:
Hedge - Gold has historically performed as a hedge against systemic and monetary risks, inflationary and deflationary policies, stagflation, uncertainty and geopolitical risks.
Safe haven - Gold is a safe haven. It is permissionless and borderless. It does not require the government or central bank to determine its price, demand or supply. It is this combined with its finite supply and indestructible quality that has allowed people to hold it for long periods of time, as a safe haven against uncertainty, and systemic and government risks.
No third party liability - When compared to other assets such as shares or gold derivatives or a mortgaged property, there is no third party liability. When you own physical gold bullion the gold is all yours.
Diversification - Gold historically has a negative or weak correlation to price movements in the financial markets, especially stock markets. Thanks to this it is an excellent portfolio diversifier.
Liquidity - The global gold market is highly liquid this makes it very straightforward for an investor to both enter and exit the market, as well as get full price transparency.
We are not living in a world where none of the aforementioned reasons for owning gold are stuff of folklore. We do have inflationary pressures, there are systemic risks thanks to terrible monetary policies of the last two decades. Our investments are exposed to counterparties and we certainly need to diversify beyond the stock and property markets.
When you buy gold you are buying insurance. When we buy insurance we don’t ask ‘is now a good time to buy it? Or shall I wait in case the chance of a fire increases tomorrow?’ We don’t do this’ because we know that we want insurance in the event of any unforeseen situations that will require insurance.
So whilst the five year gold price will inevitably show you some variations in the gold price it will not show you the ideal time to buy gold because all of the reasons for holding gold bullion get stronger every day.
If you'd like to add Gold to your portfolio and need some assistance, please contact GoldCore by chat, email, or phone, and our knowledgeable team would be happy to help.
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