The final London Fix prices for December 31, 2010 were $1,410.25 for gold and $30.63 for silver. For the year, gold advanced by $306.25 or 27.74%, while silver rose by $13.64 or 80.28%.
While precious metals have been getting more attention the past few years, gold has been providing positive returns for a decade. Including this year, gold has delivered an annual gain for an uninterrupted period of ten years. For seven out of the ten years, the gain was in the double digits. For the entire period, the price of gold has risen by more than 400%.
2000-2010 Gold Annual Performance
|Year||Closing Price||Annual Gain||Percentage Gain|
During the same decade long period, the price of silver rose from $4.57 per ounce to $30.63, for a gain of more than 570%. Much of the advance has taken place since late 2008. The price of silver fell as low as $8.88 before a rebound and two strong years brought the price to its current level.
During 2010, palladium and platinum also delivered gains. Palladium rose from $402 to $791, representing a gain of almost 97%. Platinum rose from $1,466 to $1,731 for a gain of 18%.