News & Opinions About Gold & Silver

December 01, 2023

Record Year for Gold— Up 24%

From the World Gold Council—

By any measure, gold-backed ETFs and similar products (gold ETFs) had a remarkable year in 2020.

Globally, gold ETFs had record annual net inflows of US$47.9bn, or 877 tonnes(t), collectively increasing their gold holdings by over a third, reaching all-time highs in tonnage (3,752t).

Notably, all regions registered significant growth in assets under management (AUM)1  – more than the foreign reserve holdings of any central banks except for the US and only 15% below the portion of reserves that the US stores at Fort Knox.

Price performance and trading volumes 2020

Gold rose 25% during 2020, hitting a historical high of US$2,067.15/oz on 6 August. Despite dropping 12% in March, when markets were rocked by the onset of the COVID-19 pandemic, gold recovered to finish the year among the best-performing assets, despite many stock indices reaching or surpassing all-time highs.

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