Other Recent Sterling Highs
Gold hit all-time record highs twice in 2006, and13 times in 2007, at £418.486 beating the previous peak of £371.066 on 21st January 1980, & again on 3rd Jan 2008 at £438.485, when it also hit its US$ high.
It has now broken 19 records in 2008 before the end February!
Indeed gold has broken its all-time sterling high price so many times this year, that we have not had time to keep this page up to date as frequently as we would like.
Although this page is part of our "Press Comments" section, it is remarkable that the UK media seem blissfully unaware of the gold price in sterling. Our website is about the only place you will find comment about gold prices in sterling.
The Times of India unfailingly reports gold price movements in Indian Rupees, even the Chinese press reports gold price news in Renminbi, but the British press only wag their tails at gold prices in US dollars.

Highest Ever Gold Prices in Pounds Sterling - Over £600
On Wednesday 10th May 2006, gold reached its record highest price ever in pounds sterling, the morning London Gold Fix was £378.249, beating the previous peak of £371.066 on 21st January 1980, although in US dollars it is still 15% below its $850 peak.
As at Friday 12th May, gold had retained this strong price, trading between about £380 and £387 per troy ounce, the highest fix being £382.739 on the Friday morning fix of 12th May.

29th October 2007 The London a.m. fix on 29th October 2007 was £385.12 in pounds sterling, a new all time record high. This fixing price in US dollars was $792.50 and in euros €549.851.

2007 - A Record Year for Sterling Gold By the 28th December 2007, with one final trading day left this year, gold reached its 14th record all-time high, and as we wrote this, was trading at over $419 per ounce, so it looks at though it might hit yet another record on new year's eve.

2008 Starts With More Records The first trading day of 2008 started with not one, but two all-time record high gold prices in sterling. If our gut-feeling is correct, these will be the first of many.

Media Myopia Yet again, we have seen no mention of the record prices in the UK media, which seems to be quite myopic, and only looks at the US dollar price of gold. When this hits $850, we predict there will be universal proclamation of it. This magic figure might be broken before the end of 2007. Forecasts of gold prices for 2008 are bound to include $900, $950, and $1,000 or more.

Sick Sterling One thing that these recent sterling gold highs does underline is the weakness of the pound sterling, which has fallen over 5% against the euro in the last few weeks. and 4% against the US dollar. Since 1980, sterling has dropped by almost 10% against the greenback. The exchange rate at the 21st January 1980 afternoon fix was $2.207104; at today's (28th December 2007) afternoon fix, it was $1.993325.

Yet Again! Shortly after we finished updating this page on 20th February 2008, gold shot up yet again in late trading, by about £10 per ounce, and hitting new record highs in all three gold fixing currencies.

And Again! On 21st February 2008, gold broke all three currency price records yet again, at £482.759; $945.00; and €641.200 per ounce on the afternoon London Fix. Intraday trading was even higher at over $950, breaking another magic psychological barrier. Next stop $1,000?

Getting Repetitive We last checked this page was up to date May 2014.

Quick Summary Table
Entries in bold face signify a record high in that currency.

Error Check
On 11th May 2010, we noticed that the a.m. fixes in euros on 2nd and 3rd December 2009 were shown as being identical at €802.105.
While this could be a coincidence, we believe it is more likely to be an error, and have asked the LBMA to check this. On 19th May, we heard that the 3rd December euro price had been recorded incorrectly, and had now been corrected to 805.455.

Record High Gold Price in US Dollars
The previous all-time record high gold price in US dollars was reached on 21st January 1980, fixing at $850.00 on that day's p.m. fix.
This morning (12th May 2006), gold fixed at $725.75, a 25 year record, but still 15% below the highest recorded dollar price. Many now believe that it is only a matter of time before gold hits its all time high in US dollars also (now beaten - 3rd January 2008), perhaps on its way to $1,000+. Who knows? We certainly would not want to bet against it!

Highest Gold Price in Euros (EUR)

Record High in Beijing
The record price in Chinese Yuan was achieved on Tuesday 4th April 2006, according to the Beijing Daily newspaper, hitting 170 yuan per gram (21.25 dollars).
"Gold has never been sold at such a high price in Beijing," said Wang Jian, general manager of the Gongmei Mansion Gold Store, told the paper. "I doubt whether consumers will hesitate to buy gold ornaments now," he said.
Gold dealers in China's capital reacted cautiously in raising prices, fearing a drop in sales despite the fact that prices in southern China had surged to 178 yuan (22.25 dollars) per gram.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization. Last year Chinese demand for gold rose 8 percent to more than 250 tons

Where Next?
Where does it go from here?
Gazing into our crystal ball, we would be surprised if it did not go on to break the all-time high in US dollars before too long.

Why? & Where Next? October 2009.

Highest Gold Prices Summary in 3 Currencies Simplified table with only the latest peak prices shown.

Lowest Recent Gold Price

Bull Market? Does the drop after this price peak mean an end to the gold bull market, we believe not, more of a correction.

Scrap Gold Prices

Highest Historical Silver Bullion Price & Lowest Recent Silver Price
The all-time high price for silver was hit on 18th January 1980 at $49.45 (£21.65) per troy ounce fuelled by Nelson Bunker Hunt's cornering of the market.Silver then hit a post Bunker Hunt low of $3.54750 or £1.83250 per ounce on 25th February 1991.
In late 2010, silver has broken through a 30 year high of $30 per ounce.