Gold prices in USD per troy ounce
Gold prices 2009 outperformed all expectations. We headed into 2009 with trepidation. The stock market was trying to recover from its worst collapse in decades, no one knows for sure how bad would be the recession or how long it would last. With all this pessimism came one silver lining: people began realizing that there were safer ways to invest their money than the stock market. With gold being one of the few securities that posted a gain in 2008, it received much recognition from the public. Gold prices 2009 clearly benefited from this; and so did investors.
Gold prices 2009 started their first quarter at only about $875 per troy ounce. It formed a classic consolidation pattern in January before rising to a peak of $1,000 an ounce. This price then slipped to $900 an ounce and underwent another consolidation.
In the second quarter, things started to change for the better. A two month up-trend began in April and peaked at $990 per troy ounce. This peak then slipped, however, by 9% to end the quarter at $920 an ounce.
The third quarter saw gold prices 2009 began a slow, but steady up-trend. Prices went from about $910 an ounce to $950 and then held there for about two months. September saw another increase in gold prices to $1,000 an ounce. The price consolidated here for most of the month before making a fast 5% jump to $1,050 per troy ounce.
In the fourth quarter, gold prices 2009 began what appeared to be a strong comeback off of a very sound base. October began another month-long consolidation period before launching a 12% spike which lasted through November. The ending price for November was $1,125 per troy ounce.
Although gold prices 2009 cannot be fully determined at the time of this writing, it can be readily assumed that the year will result in an increase. Thus far into the year, we have seen an increase of 30% in gold prices 2009. With the value of the dollar falling and the supply of gold increasing at the slowest rate ever, it is reasonable to think that this year marks the visible trend in gold prices.