Gold rose +302% over the max to Mar 2026 — from £906 to £3,640 per troy ounce. Monthly averages; source: World Bank Commodity Price Data (London PM fix, 99.5% fine, monthly average). Indicative — gold moves continuously and past movement is not a guide to the future.
The story behind the chart
Gold does not move in a straight line. The chart shows distinct chapters, and each one is a useful reminder that the price is set by the wider economy, not by anything you can predict.
- 2011–2015 — the long slide. After peaking around £1,123 an ounce in 2011, gold fell for four years as the global economy steadied, bottoming near £714 in late 2015.
- 2016–2019 — a slow recovery. Gold climbed back through £900 and then £1,000, helped by a weaker pound after the 2016 EU referendum.
- 2020 — the pandemic surge. Gold pushed past £1,500 an ounce for the first time as the world looked for safety.
- 2021–2023 — range-bound. Gold held a broad band roughly between £1,240 and £1,600, with plenty of movement but no clear trend.
- 2024–2026 — the record run. Gold broke decisively higher, roughly doubling from about £1,600 at the start of 2024 to around £3,640 by Mar 2026 — its highest level on record.
The lesson is not that gold always rises. It is that gold today is expensive by any historical measure — which is exactly why old gold is worth checking.
Gold price by year — annual averages
Annual average gold price, GBP per troy ounce and per gram. Averages smooth out the month-to-month noise so the trend is clear. Source: World Bank Commodity Price Data (London PM fix, 99.5% fine, monthly average).
| Year | Per troy ounce | Per gram | Change on prior year |
|---|---|---|---|
| 2012 | £1,053 | £33.86 | — |
| 2013 | £904 | £29.06 | -14.2% |
| 2014 | £768 | £24.69 | -15.0% |
| 2015 | £759 | £24.42 | -1.1% |
| 2016 | £926 | £29.76 | +21.9% |
| 2017 | £976 | £31.39 | +5.5% |
| 2018 | £950 | £30.55 | -2.7% |
| 2019 | £1,092 | £35.11 | +14.9% |
| 2020 | £1,380 | £44.36 | +26.3% |
| 2021 | £1,308 | £42.07 | -5.2% |
| 2022 | £1,457 | £46.85 | +11.4% |
| 2023 | £1,563 | £50.24 | +7.2% |
| 2024 | £1,867 | £60.02 | +19.5% |
| 2025 | £2,607 | £83.83 | +39.7% |
Indicative historical data. Annual figures are averages of monthly London PM fixes; they do not capture intra-year highs and lows. Gold moves continuously and past movement is not a guide to future prices.
Reading the chart as a seller
Investors read a chart like this asking “what happens next?” If you are selling gold you already own, that is the wrong question — and an impossible one to answer. The useful question is simpler: how does today compare with when I got my gold?
For almost anyone who acquired gold before about 2021, the answer is the same: it is worth substantially more now. A sovereign, a snapped chain, a single earring, an inherited ring — all of it tracks the same line on this chart. Our gold value tracker turns that into a figure: pick the year and see the difference.
Common questions
How far back does this gold price chart go?
The chart covers every month from April 2011 to March 2026, using the World Bank Commodity Price Data series — the monthly average London afternoon fix for 99.5% fine gold, in GBP per troy ounce.
Why is the UK gold price so high right now?
Two things at once: the global dollar price of gold has risen on central-bank buying and economic uncertainty, and the pound has been relatively weak, which lifts the price further when it is converted into sterling. The result is a gold price in pounds near the highest level on record.
Has gold ever fallen?
Yes — clearly visible on the chart. Gold fell through 2013–2015 after its post-2011 peak, and traded sideways for stretches. Past movement is never a guide to the future. The chart is a record, not a forecast.
What does the chart mean for selling my gold?
If you acquired gold more than a few years ago, the chart shows your items are very likely worth more now than the day you got them. You do not need to predict the next move — you need an accurate figure for what you hold today. Send a photo on WhatsApp and we will give you one.