Price records

Since 1968 the price of gold on the open market has ranged widely, from a high of $850/oz ($27,300/kg) on January 21, 1980, to a low of $252.90/oz ($8,131/kg) on June 21, 1999 (London Gold Fixing).^[39] The period from 1999 to 2001 marked the "Brown Bottom" after a 20 year bear market.^[40] Prices increased rapidly from 1991, but the 1980 high was not overtaken until January 3, 2008 when a new maximum of $865.35 per troy ounce was set (a.m. London Gold Fixing).^[41] The current record price was set on March 17, 2008 at $1023.50/oz ($32,900/kg)(am. London Gold Fixing).^[41] The intraday record was set the day after at $1,033.90/oz.^[42]