Gold Price History UK
Today's and Yesterday's Gold Price
| Date | Price (oz) £ | Price (gram) £ |
|---|---|---|
| 2026-10-16 | 3125.53 (-12.2) | 100.49 (-0.39) |
| 2026-10-15 | 3137.735 (+30.3) | 100.88 (+0.97) |
Past 10 Days Gold Price
| Date | Price (oz) £ | Price (gram) £ |
|---|---|---|
| 2026-10-16 | 3125.53 (-12.2) | 100.49 (-0.39) |
| 2026-10-15 | 3137.735 (+30.3) | 100.88 (+0.97) |
| 2026-10-14 | 3107.435 (-31.53) | 99.91 (-1.01) |
| 2026-10-13 | 3138.97 (-17.34) | 100.92 (-0.56) |
| 2026-10-12 | 3156.305 (-7.34) | 101.48 (-0.23) |
| 2026-10-11 | 3163.64 (-6.02) | 101.71 (-0.2) |
| 2026-10-10 | 3169.66 (0.00) | 101.91 (0.00) |
| 2026-10-09 | 3169.66 (+40.32) | 101.91 (+1.3) |
| 2026-10-08 | 3129.34 (+19.82) | 100.61 (+0.64) |
| 2026-10-07 | 3109.525 (-29.44) | 99.97 (-0.95) |
Last 30 Days Gold Price
| Date | Price (oz) £ | Price (gram) £ |
|---|---|---|
| 2026-10-16 | 3125.53 (-12.2) | 100.49 (-0.39) |
| 2026-10-15 | 3137.735 (+30.3) | 100.88 (+0.97) |
| 2026-10-14 | 3107.435 (-31.53) | 99.91 (-1.01) |
| 2026-10-13 | 3138.97 (-17.34) | 100.92 (-0.56) |
| 2026-10-12 | 3156.305 (-7.34) | 101.48 (-0.23) |
| 2026-10-11 | 3163.64 (-6.02) | 101.71 (-0.2) |
| 2026-10-10 | 3169.66 (0.00) | 101.91 (0.00) |
| 2026-10-09 | 3169.66 (+40.32) | 101.91 (+1.3) |
| 2026-10-08 | 3129.34 (+19.82) | 100.61 (+0.64) |
| 2026-10-07 | 3109.525 (-29.44) | 99.97 (-0.95) |
| 2026-10-06 | 3138.965 (+8.3) | 100.92 (+0.27) |
| 2026-10-05 | 3130.665 (+2.43) | 100.65 (+0.07) |
| 2026-10-04 | 3128.235 (-0.09) | 100.58 (0.00) |
| 2026-10-03 | 3128.33 (0.00) | 100.58 (0.00) |
| 2026-10-02 | 3128.33 (-39.16) | 100.58 (-1.26) |
| 2026-10-01 | 3167.485 (+35.18) | 101.84 (+1.13) |
| 2026-09-30 | 3132.3 (-27.96) | 100.71 (-0.89) |
| 2026-09-29 | 3160.26 (+48.24) | 101.6 (+1.55) |
| 2026-09-28 | 3112.02 (-111.76) | 100.05 (-3.6) |
| 2026-09-27 | 3223.78 (-11.11) | 103.65 (-0.35) |
| 2026-09-26 | 3234.89 (0.00) | 104 (0.00) |
| 2026-09-25 | 3234.89 (+1.11) | 104 (+0.03) |
| 2026-09-24 | 3233.775 (-7.6) | 103.97 (-0.24) |
| 2026-09-23 | 3241.375 (-28.76) | 104.21 (-0.93) |
| 2026-09-22 | 3270.135 (+5.95) | 105.14 (+0.19) |
| 2026-09-21 | 3264.19 (-3.04) | 104.95 (-0.09) |
| 2026-09-20 | 3267.23 (-1.8) | 105.04 (-0.06) |
| 2026-09-19 | 3269.025 (0.00) | 105.1 (0.00) |
| 2026-09-18 | 3269.025 (+17.36) | 105.1 (+0.56) |
| 2026-09-17 | 3251.67 (+64.95) | 104.54 (+2.08) |
Note: Some dates may be missing due to market closures or other anomalies.
Last 3 Months Gold Price Chart
Note: Some dates may be missing due to market closures or other anomalies.
Last 6 Months Gold Price Chart
Note: Some dates may be missing due to market closures or other anomalies.
1 Year Gold Price Chart
Note: Some dates may be missing due to market closures or other anomalies.
Gold Price Trends: A Historical Overview
Gold has long been regarded as a safe-haven asset, with its price influenced by various economic and geopolitical factors. Here’s a snapshot of its historical performance:
Recent Price Milestones
April 2025: Gold prices reached a record high of $3,245.28 per ounce, marking a 23% increase since January 2025. This surge is attributed to escalating U.S.-China trade tensions and global economic uncertainties.
2024: The average closing price was $2,388.98, with a year-end close at $2,624.60, reflecting a 27.23% annual increase.
2023: Gold closed the year at $2,062.92, up from $1,943.00 in 2022, indicating a 13.08% annual growth.
Key Historical Highlights
1980 Peak: Gold prices soared to $843.00 per ounce amid high inflation and geopolitical tensions.
1999 Low: Prices dipped to approximately $252.90 per ounce, reflecting a period of reduced demand.
2020 Pandemic Surge: Amid global uncertainty due to COVID-19, gold reached $2,058.40 per ounce, underscoring its role as a safe-haven asset.
Factors Influencing Gold Prices
Geopolitical Tensions: Escalating trade disputes, particularly between the U.S. and China, have driven investors toward gold.Â
Economic Uncertainty: Concerns over inflation, currency devaluation, and potential recessions increase gold’s appeal.
Central Bank Policies: Actions such as interest rate adjustments and quantitative easing impact gold demand.​
Market Volatility: Fluctuations in stock markets often lead investors to seek the stability of gold.
The Evolution of Gold Prices in the UK Over the Decades
The price of gold in the UK has changed greatly over the decades, shaped by major shifts in the world economy. Until the early 1970s, gold was tied to global currency values under the Bretton Woods system. During this time, prices stayed mostly steady. That changed in 1971 when the UK and other countries left the gold standard, allowing gold prices to move freely.
Once gold began to float on the open market, its price became more volatile. In the 1970s, high inflation and global economic shocks caused gold prices to rise sharply, peaking around 1980. After that, through the 1980s and 1990s, prices dropped and remained low as economies grew stronger. Gold hit a low point around 1999.
In the 2000s, the trend shifted again. Investors began turning to gold for security, especially during times of crisis. Prices rose during the 2008 global financial crash and again during the COVID-19 pandemic. Over the long term, gold in the UK has gone through calm periods, sudden spikes during uncertain times, and occasional dips. These changes reflect the way global and local events continue to shape gold’s value.
What Influences Gold Prices in the UK?
Gold prices in the UK change for many reasons. The most important factors include supply and demand in the gold market, the decisions made by central banks, and major global events that affect how people feel about risk and safety.
Supply and Demand in the Gold Market
Gold prices often follow the basic rule of supply and demand. When demand increases faster than supply, the price usually rises. If there is too much supply and not enough demand, the price can fall. Gold supply grows slowly because mining only adds a small amount each year. At the same time, demand comes from jewellery, industrial use, and investors.Â
The Role of Central Banks
Central banks have a strong influence on gold prices. When they buy gold, they add to global demand and help push prices higher. In recent years, many central banks around the world, especially in developing countries, have been buying gold regularly. In 2024, they bought more than one thousand tonnes of gold. This long-term buying supports the price. On the other hand, when central banks sell large amounts of gold, it increases supply and can lower the price. This happened in the late 1990s, when several central banks, including the Bank of England, sold part of their gold reserves. That led to lower prices at the time.
Impact of Major Global Events
Gold is often seen as a safe investment during uncertain times. When the world faces financial trouble or political tension, many people turn to gold to protect their money. For example, during the 2008 financial crisis and the 2020 pandemic, gold prices rose sharply as investors looked for safety.Â
How Has the Price of Gold Changed Over the Years?
Gold prices in the UK have moved through long periods of stability, sharp rises, and occasional declines. These changes reflect the state of the global economy and how people respond to risk. Here is the evolution of gold price over the years.
1970s Inflation
The 1970s brought high inflation, energy crises, and global uncertainty. These events pushed gold prices sharply higher. By January 1980, gold reached a record high of over 800 US dollars per ounce. In the UK, prices rose dramatically in pounds as well, marking a major peak in gold price history.
1990s Decline
After the rise in the 1980s, gold prices slowly fell throughout the 1990s. The global economy was strong, and investor interest in gold dropped. By 1999, gold reached a multi-decade low of around 253 US dollars per ounce, and the UK price followed a similar downward trend.
2008 Financial Crisis
In the late 2000s, gold prices surged again as the global financial crisis unfolded. Between late 2008 and 2010, gold climbed from about 730 to 1,300 US dollars per ounce. In the UK, the gold price also rose sharply during this period, as many investors moved towards safer assets.
COVID-19 Pandemic
In 2020, the COVID-19 pandemic caused global uncertainty, and gold prices reached new highs. For the first time, gold broke the 2,000 US dollar mark per ounce. UK prices also hit record levels as demand increased sharply.
Recent Record Peaks
By late 2024, gold reached new all-time highs in the UK. In October 2024, the price set a fresh record, and by January 2025, it had climbed to its highest ever level in sterling, around £2,228 per ounce. This marked a significant milestone in the gold price history in the UK.
When Did Gold Prices Hit Their Highest Point in the UK?
Gold prices in the UK reached their highest level on 16 January 2025, when the price rose to approximately £2,228 per troy ounce. This record high was driven by global demand for gold and was also influenced by a weaker pound, which made gold more expensive for UK buyers.Â
The Relationship Between Currency Fluctuations and Gold Prices
The value of the British pound plays a big role in how much gold costs in the UK. Gold is traded globally in US dollars, so any change in the pound-to-dollar exchange rate affects the gold price in pounds.
When the pound weakens against the dollar, it takes more pounds to buy the same ounce of gold. As a result, the gold price in GBP goes up. On the other hand, if the pound strengthens, it takes fewer pounds to buy that same ounce, and the UK gold price usually falls.
The Influence of Inflation and Interest Rates on Gold Prices
Inflation and interest rates have a strong effect on gold prices. During times of high inflation, everyday goods become more expensive, and the value of cash may fall. To guard against this, investors often buy gold, which increases demand and pushes the price up.
Interest rates also matter. When interest rates are high, savings accounts and bonds become more attractive because they offer returns. Since gold does not pay interest, it often loses appeal during these times, and the price may fall. However, when interest rates are low, returns on savings drop, and more people turn to gold instead. This shift in demand can lead to higher gold prices.
Final Thoughts
Looking at the history of gold prices helps us understand why gold moves up or down today. In the past, events like wars or high inflation made people buy more gold, which pushed prices higher. By studying these patterns, we can better understand the prices of gold.
FAQs
How much has gold gone up in 5 years in the UK?
Over the past five years, gold prices in the UK have risen steadily. In early 2020, the price of gold was around £1,200 per ounce. By January 2025, it had reached an all-time high of approximately £2,228 per ounce. This means gold nearly doubled in value during that five-year period. The rise was driven by global uncertainty, high inflation, strong investor demand, and a weaker British pound.
What were the highest and lowest gold prices in the UK since 1970?
Since 1970, the lowest gold price in the UK occurred in the late 1990s, when it dropped to around £150 per ounce. This was a period of strong global economic growth and reduced interest in gold. The highest price came in January 2025, when gold reached about £2,228 per ounce. This record was set during a time of global financial concern and strong demand for safe assets.
How has the gold price in the UK changed over the past decade?
The gold price over 10 years has shown a clear upward trend. Around 2015, gold traded at roughly £700 to £800 per ounce. It rose slowly at first, then jumped sharply during the COVID-19 pandemic in 2020. Prices continued to rise in the following years, driven by inflation, economic uncertainty, and increased central bank demand. By 2025, gold had reached record levels, showing strong long-term growth.
What is the highest price gold has ever been?
The highest price gold has ever reached in the UK was approximately £2,228 per ounce, recorded on 16 January 2025. This marked the peak of a long period of rising prices, influenced by a mix of global instability, strong demand, and currency movements.Â